Know the step-by-step Complete Process to Apply for a Direct PLUS Loan.
Step 1- parents will need to apply for the Direct Parent PLUS Loan on the official website "studentaid.gov" with their own FSA ID.
Step 2- Parents can apply through FAFSA. The Direct Parent PLUS Loans must be requested each academic year.
Step3- If you do not have an FSA ID, you will need to create one before applying for the Direct Parent PLUS Loan.
Step 4- The Parent PLUS Loan Application allows the parent to request a federal Direct PLUS Loan.
Step 5- After successfully submitting the application form, you can Preview the Direct Parent PLUS application.
Step 6- Applicants will be notified at the time that they submit their application if their credit has been approved or denied.
PLUS Loan Application allows the parent to change the amount of a Direct PLUS Loan you previously requested.
PLUS Loan Application allows the parent to authorize how the school may use your Direct PLUS Loan funds to pay for educational expenses.
Federal Direct Parent PLUS Loan Interest Rate: On or After July 1, 2021: 6.28% On or After July 1, 2022: 7.54%
If your application was approved for credit, your request will be sent electronically within 2 working days.