Apply for a Direct Parent PLUS Loan online. You must login as the parent to complete the application.
Direct PLUS Loans are unsubsidized loans for the parents of dependent students. PLUS Loans help pay for education expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods.
When you apply for a Direct PLUS Loan, the Department will check your credit history. To be eligible to receive a PLUS Loan, you must not have any adverse credit history. If it is determined you have an adverse credit history, you may still receive a Direct PLUS Loan if you obtain an endorser who does not have an adverse credit history. An endorser is someone who agrees to repay the Direct PLUS Loan if you do not repay the loan. If you are a parent borrowing on behalf of your dependent student, the endorser may not be the student on whose behalf a parent obtains a Direct PLUS Loan.
In some cases, you may also be able to obtain a Direct PLUS Loan if you document to the Department’s satisfaction extenuating circumstances related to your adverse credit history.
For approved PLUS Loans, the parent completes a Master Promissory Note (MPN) at www.studentaid.gov. If the loan is endorsed, the MPN must include the endorser’s information listed as the first reference. If the loan is approved by appeal or endorser, the parent must also complete PLUS entrance counseling online at www.studentaid.gov.
If a Parent PLUS Loan is not an option due to an adverse credit history, the student’s unsubsidized loan may be increased. Parents must complete a Direct Parent PLUS Loan application and be denied before additional unsubsidized funds may be added to the student’s award.
To apply for a PLUS Loan, you must complete a Direct PLUS Loan Application and the MPN. Both the PLUS application and the MPN can be completed online at www.studentaid.gov. In order to complete the application, you must sign in to the studentloans.gov website as the parent.
Alternative Parent PLUS Loan
An alternative to the federally-funded Direct Parent PLUS Loan through a private lender. This loan is available to parents, family members, and other creditworthy individuals who are US citizens or permanent residents willing to help a student achieve their educational goals. The student is not eligible to be a borrower or cosigner. Loan requirements and features vary by lender which may include no loan origination fee, competitive interest rates, and choice of repayment options.
View Missouri Valley College’s preferred lender list and apply for an alternative Parent PLUS Loan online.