Aerial view of campus with Williamsport, the Susquehanna River and Bald Eagle Mountain as a backdrop

Federal Direct Parent PLUS Loan

Would your family prefer to pay all, or part of your cost with a parent loan?

A Federal Direct Parent Loan for Undergraduate Students (PLUS) is a low-cost education loan for parents. The PLUS Loan offers flexible repayment terms and a fixed interest rate.

IMPORTANT DATE: Apply starting July 1.

Advantages of the PLUS Loan include:

  • Qualifications for a PLUS are based solely on good credit, and there are no debt-to-income ratio guidelines or employment verification requirements
  • Plenty of borrowing power - up to the full cost of attendance minus financial aid.
  • Flexible repayment terms with up to 10 years to repay the loan, which includes interest-only payments or deferring principal and interest payments for up to four years
  • Interest may be tax deductible
  • Payments as low as $50 a month
  • No penalty for early repayment or payoff
  • If the PLUS loan is denied, freshmen and sophomores are eligible for an additional $4000 from the Federal Direct Unsubsidized Stafford Loan, while juniors and seniors are eligible for an additional $5000
  • Provides a built-in insurance for death and disability that applies to both the borrower and the student at no additional cost
  • Some parents may opt to do a combination of the TuitionPay Payment Plan and Parent PLUS Loan

You can start the application process by visiting the Federal Student Aid website, clicking "Parent Borrowers" and then choosing "Apply for a PLUS Loan."

Start your application