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Undergraduate PLUS Loans

Please note: 

You MUST have a current FAFSA on file with our office before we will certify your Parent PLUS Loan.

Undergraduate PLUS Loan Information

The parents of dependent undergraduate students may borrow funds through a PLUS loan. To receive a PLUS loan, they will be required to pass a credit check. If they do not pass the credit check, they still may be able to receive a loan if someone, such as a relative or friend who is able to pass, agrees to co-sign the loan, promising to repay it if your parents should fail to do so.

The yearly limit on a PLUS loan is equal to your cost of attendance minus any other financial aid for which you are eligible. For example, if your cost of attendance is $6,000 and you are eligible for $4,000 in other financial aid, your parents could borrow up to $2,000. The interest rate is fixed at 7.54% for loans disbursed on or after July 1, 2022. There is an origination fee of 4.228%. Unlike the Stafford loan, repayment of the PLUS Loan begins sixty days after the final disbursement. In addition, interest begins accruing at the point of first disbursement. Under certain circumstances, your parents may receive a deferment on their loan, but first must provide documentation and continue to make payments until a deferment has been granted.

Apply for a PLUS Loan

 To apply for a PLUS loan, please follow the instructions on our loan application page.

What to do if your Parent PLUS loan is denied

If your PLUS loan application is denied, the student may be eligible for additional unsubsidized loan funds.  Please contact our office for more information, 757-221-2420.  If your parent wishes to appeal the credit decision, or would like to add an endorser to their PLUS loan, please go to, sign in, and select either option under the "PLUS Loan Process" section.