Federal Direct Parent PLUS Loan Information

Parents interested in applying for a Federal Direct Parent PLUS Loan to help cover the cost of a dependent student’s education need to know the following:


This credit-based federal loan is available to parents of dependent undergraduate students who are enrolled at least half-time (6 credits per semester) in an eligible program leading to a degree or certificate.

  • The borrower must be the parent (custodial or non-custodial) or stepparent of the student.  A legal guardian or another relative cannot apply.
  • The parent borrower must be a U.S. citizen or eligible non-citizen.
  • This loan is based on approved credit.  The applicant cannot be 90 days or more delinquent on the repayment of any debt; or the subject of a default determination, bankruptcy discharge, foreclosure, repossession, tax lien, wage garnishment, or write-off of a Title IV debt during the last five years.
  • While the annual loan limit is the student's cost of attendance minus any estimated financial aid received, it is HIGHLY recommended to wait until the receipt of the student's first University bill in order to more accurately determine the amount to request.  If borrowing a fall/spring loan, the amount requested may need to be doubled in order to accomodate both semesters.
  • This loan is offered through the federal government and offers a fixed interest rate of 7.9%. 
  • This loan has an origination fee of 4%.  The Department of Education assumes an upfront repayment rebate of 1.5%.  Therefore, 97.5% of the gross loan will be disbursed to the school.
Repayment begins 60 days after final loan disbursement unless a deferment is granted through the Direct Loan Servicer.

How to Apply

  • Submit a Federal Direct Parent PLUS Loan Request Form to the financial aid department.

    Request Form available on our Forms Page

  • The pre-approved loan amount will be posted on the student’s Stony Brook SOLAR account and appear as anticipated aid against the student’s University bill (please allow 7-10 business days for processing).
  • A credit check will be performed by the US Department of Education. Written notification of the credit check results will be sent to the borrower.
  • If credit is approved and this is the borrower's first time borrowing a Federal Direct PLUS loan, complete the Federal Direct PLUS Loan Master Promissory Note (MPN) online at www.studentloans.gov.
  • Disbursement will not occur until after the start of the term and after all other requested information has been received and processed by the financial aid department.

Estimated Loan Repayment Chart Based on Standard Repayment

Amount Borrowed
# 0f Monthly Payments
Monthly Payment at 7.9%
$10,000
120
$121.00
$15,000
120
$181.00
$20,000
120
$242.00
$40,000
120
$483.00

Click here for more information on Federal Direct Parent Loan repayment options.