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PLUS Loan

Federal Direct Parent Loan for Undergraduate Students (Direct PLUS Loan)

Federal Direct Parent PLUS Loan is a credit-based government-sponsored fixed interest loan that is made available to parents to help pay for educational expenses up to the cost of attendance minus all other financial aid the student is awarded. Interest starts to accrue after disbursement and is charged during all periods. The interest rate for a Parent PLUS loan disbursed before June 30, 2016 is fixed at 6.84 percent. A processing loan fee of 4.272 percent is also assessed on a Parent PLUS loan that is processed and disbursed before September 30, 2016. (Rate updates will be posted when received from the Department of Education.)

Parent(s) of undergraduate students must apply online following the steps below. No paper applications are accepted.

Eligibility requirements

  • Applicants must be the biological or adoptive parents of the student.
  • The student must be a dependent of the parent, a U.S. citizen or eligible non-citizen.
  • The Student must be enrolled in at least 6 credit hours per semester.
  • Parent borrower must be a U.S. citizen or eligible non-citizen with satisfactory credit rating

How to Apply for a Parent PLUS Loan

  1. Go to studentloans.gov
  2. Select the Parent PLUS loan type
  3. Supply your Personal Information

  4. Supply Student & Loan Info
  5. Review your application
  6. Authorize a credit check and submit your application

    If your loan application is not approved, you will be presented with several options:

    - not pursuing a Direct PLUS Loan at this time
    - obtaining an endorser
    - appealing the credit decision
    - undecided about next steps

What Happens After You Submit?

  • Department of Education will send you an email to acknowledge that it received your application.
  • Department of Education processes your application and performs a credit check.
  • Department of Education will send your outcome -- granted or denied -- to Bowie State University Financial Aid and send you an email of the outcome within 24-48 hours.
  • If credit check is granted, Bowie State Financial Aid processes your application to award the PLUS loan.
  • Applicants must Complete Electronic Master Promissory Note (EMPN) before granted and processed Parent PLUS is disbursed.
  • If credit check is denied, Bowie State Financial Aid awards your daughter or son an additional unsubsidized loan up to allowed limits.
  • Applicants with denied credit check may be reconsidered with the addition of an endorser and completion of the PLUS counseling.

Additional Information

Your total Parent PLUS eligibility might be subject to adjustment based on any additional Financial Aid (scholarships and/or grants) that your daughter and/or son or may be awarded.

If additional Parent PLUS funds are required once the original application has been processed, a new application must be submitted.

A new Parent PLUS application must be submitted for each school year.

Credit Check is good for 180 days (6-months). A new Parent PLUS application must be completed if credit check expires. Parent PLUS Application is becomes available 45 days prior to the beginning of the loan period to prevent credit check from expiring.