William D. Ford Federal Direct Parent Loan for Undergraduate Students

Eligibility criteria

  1. Parents of dependent students are eligible to apply
  2. Student must be enrolled at least half-time
  3. Not in default on another student loan
  4. U.S. citizen or eligible non-citizen
  5. Maintain Satisfactory Academic Progress

Amounts and Selection Process

Parents of dependent students may borrow a maximum of the cost of education minus other financial aid.


For the 2024-25 academic year, the interest rate will be a fixed rate of 9.08 percent. Interest accrues while the student is in school. Standard repayment period is 10 years. A net 4.228 percent processing fee is deducted from the loan proceeds when the funds are disbursed. 

Repayment begins 60 days after the loan has fully disbursed. Parent PLUS loans are eligible for deferment, find out more about deferment options.

Application Process

  1. File the Free Application for Federal Student Aid (FAFSA) and submit all requested documents.
  2. Remove any active credit bureau freezes before applying.
  3. Apply online at studentaid.gov/plusapp. Log in with the FSA ID username and password of the Parent borrower, do not log in with the student’s FSA ID. Click or tap the start button the next to the Direct PLUS Loan Application for Parents and complete the application. An immediate credit decision will be provided.
  4. If approved, you will be directed to complete the Parent PLUS Master Promissory Note (MPN). If the MPN is not completed at the time of approval go to studentaid.gov/mpn to complete it.
  5. Loans approved after documenting extenuating circumstances or by obtaining an endorser will require completion of PLUS Loan Credit Counseling through studentaid.gov.

Options Following a Parent Plus Denial

Federal PLUS loans are credit based. If it is determined that you have an adverse credit history, you may still qualify for a Direct PLUS Loan in one of the following ways:

  • Find an endorser with good credit (not the student for which the loan is being borrowed) or
  • Document extenuating circumstances to the U.S. Department of Education Office of Federal Student Aid. Visit studentaid.gov and complete and submit all documentation required by the U.S. Department of Education.

If the PLUS loan is approved with either an endorser or by documenting extenuating circumstances the parent borrower must complete PLUS Credit Counseling at studentaid.gov.

If a parent is unable to secure a PLUS loan for a dependent undergraduate, the student may be eligible for additional Federal Direct Unsubsidized Loan to help with education costs. This additional student borrowing will likely be less than the PLUS loan amount, but can assist in meeting educational costs. If the student is eligible, the amount is capped at the annual combined Undergraduate independent level. This increase is not available if any parent passes the credit check or an endorser is approved. Contact Marquette Central for assistance.

For more about adverse credit history, see this information from studentaid.gov.

Renewal Process

Loan offer is renewed only if students and parents continue to meet eligibility requirements and the application process is completed each year.