Skip to main content

About the Federal Direct Parent PLUS Loan

The Parent Plus Loan is a federally funded, low-interest loan available to parents of dependent undergraduate students. A credit evaluation is required. Parents may borrow the difference between the total cost of the student's education (including books, fees and personal expenses) minus any other forms or financial aid the student will receive.


A parent/stepparent of a dependent student, who are not in default on any federal education loans, and are U.S. citizens or eligible non-citizens may be eligible to borrow the Parent PLUS Loan.

How to Apply

  • Complete the Parent Plus Loan Request Form
    • Indicate the amount you wish to borrow.
    • Fully complete and return the request form to the USD Office of Financial Aid Office
  • Complete the Master Promissory Note (MPN)

Interest Rate

For Federal Direct Parent PLUS loans, the interest rate is fixed at 7.595% as of July 1, 2018..

Loan Fees

Effective October 1, 2017, a loan fee of 4.264% of the principal amount of each loan a student receives will apply. The fees are deducted from your loan prior to dispursement.

Repayment Terms

Repayment begins within 60 days after the final disbursement of each loan. You may be able to postpone principal payments while your student is in school (up to four years). Contact your lender on repayment and forbearance options. The maximum repayment period is 10 years and the minimum monthly payment is $50.00.