{"id":869,"date":"2022-07-11T12:49:51","date_gmt":"2022-07-11T12:49:51","guid":{"rendered":"https:\/\/web.tarleton.edu\/finaid\/?page_id=869"},"modified":"2026-02-19T21:45:26","modified_gmt":"2026-02-19T21:45:26","slug":"direct-plus","status":"publish","type":"page","link":"https:\/\/www.tarleton.edu\/finaid\/typesofaid\/direct-plus\/","title":{"rendered":"Parent PLUS Loan"},"content":{"rendered":"\n<h1 class=\"wp-block-heading\">Parent Loans for Undergraduate Students (PLUS)<\/h1>\n\n\n\n<p>Direct PLUS Loans are offered by the Department of Education to parents of dependent undergraduate students to assist in meeting education costs. Eligible parents may borrow the difference between the Cost of Attendance and other financial assistance the student is eligible to receive.<\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Parent Eligibility Requirements for a Direct PLUS Loan<\/h2>\n\n\n\n<p>You must be the biological or adoptive parent or step-parent of a dependent undergraduate student who is enrolled at least half-time (6 or more semester credit hours) at a school that participates in the Direct Loan Program.<\/p>\n\n\n\n<p class=\"information has-texan-white-color has-tarleton-purple-background-color has-text-color has-background\">For financial aid purposes, a student is considered &#8220;dependent&#8221; if he or she is under 24, unmarried, has no legal dependents, or is not a veteran at the time the Free Application for Federal Student Aid (FAFSA) is submitted.<\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Eligibility Requirements<\/h2>\n\n\n\n<p>To qualify for a Direct PLUS loan, a student must:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Have completed the FAFSA<\/li>\n\n\n\n<li>Be enrolled at least 6 semester hours (half-time)<\/li>\n\n\n\n<li>Meet requirements of&nbsp;<a href=\"https:\/\/www.tarleton.edu\/finaid\/manage-aid\/satisfactory-academic-progress\/\">Satisfactory Academic Progress<\/a><\/li>\n<\/ul>\n\n\n\n<p>Parents must:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Be a biological or adoptive parent or step-parent<\/li>\n\n\n\n<li>Have a good credit history<\/li>\n\n\n\n<li>Not have defaulted on any previous student or parent loans<\/li>\n\n\n\n<li>Be a U.S. citizen or an eligible non-citizen<\/li>\n<\/ul>\n\n\n\n<p>To take out a Direct PLUS Loan, parents must:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Login to the&nbsp;<a href=\"https:\/\/studentloans.gov\/myDirectLoan\/launchPLUS.action?plusType=parentPlus\" target=\"_blank\" rel=\"noreferrer noopener\">Federal Student Aid<\/a>&nbsp;website<\/li>\n\n\n\n<li>Sign in using his or her own FSA ID<\/li>\n\n\n\n<li>Choose&nbsp;<strong>Request Direct PLUS Loan<\/strong><\/li>\n\n\n\n<li>Select&nbsp;<strong>Parents PLUS<\/strong><\/li>\n\n\n\n<li>Follow all steps of the application and submit<\/li>\n<\/ol>\n\n\n\n<p>Upon application, your approval status will be visible. If you are denied the Direct PLUS loan, you may still borrow a PLUS Loan if you locate an endorser who is creditworthy. An endorser is someone who agrees to repay the loan if you do not. In some cases, you may also be able to obtain a Direct PLUS Loan if you document that there are extenuating circumstances related to your adverse credit history.<\/p>\n\n\n\n<p>Next, you\u2019ll complete a&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/studentloans.gov\/myDirectLoan\/launchMpn.action?mpnType=parentPlusMpn\" target=\"_blank\">master promissory note (MPN)<\/a>&nbsp;online. The MPN is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the Department of Education. It also explains the terms and conditions of your loan(s). To complete an MPN online; you will be required to use your Department of Education-issued&nbsp;<a href=\"https:\/\/studentaid.gov\/fsa-id\/sign-in\/landing\">FSA ID<\/a>.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-group has-black-color has-text-color has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#e1e1e1\">\n<p>If you apply for a Direct PLUS Loan but you are unable to receive the loan, your dependent may be eligible to receive additional Direct Unsubsidized Loan funds. In this case, the student would need to complete and submit the&nbsp;<strong>Revision Request<\/strong>&nbsp;in&nbsp;<a href=\"https:\/\/www.tarleton.edu\/mygateway\/\" target=\"_blank\" rel=\"noreferrer noopener\">myGateway<\/a>.<\/p>\n\n\n\n<p>Steps to Submit a Loan Revision Request:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Log into&nbsp;your&nbsp;<strong>myGateway&nbsp;<\/strong>account&nbsp;<\/li>\n\n\n\n<li>Select<strong>\u202fNew DuckTrax Menu<\/strong>&nbsp;<\/li>\n\n\n\n<li>Under the Financial Aid menu, click the&nbsp;<strong>Loan Revision Request&nbsp;<\/strong><\/li>\n\n\n\n<li>Fill out form&nbsp;with <strong>one of the following&nbsp;requests<\/strong> and:&nbsp;\n<ul class=\"wp-block-list\">\n<li>Increase loan funding&nbsp;<\/li>\n\n\n\n<li>Decease loan funding&nbsp;<\/li>\n\n\n\n<li>Cancel loan(s)&nbsp;<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>For an increase or decrease, <strong>please input the exact whole dollar amount requested<\/strong>&nbsp;<\/li>\n\n\n\n<li>Sign and date the form&nbsp;<\/li>\n\n\n\n<li>Click <strong>Submit <\/strong>in the top right corner&nbsp;<\/li>\n<\/ol>\n<\/div>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>The Interest rate for Direct PLUS Loans are fixed. Interest is charged on Direct PLUS Loans during all periods, beginning on the date of your loan\u2019s first disbursement.<\/p>\n\n\n\n<p>In addition to interest, you pay a loan origination fee that is a percentage of the principal amount of each Direct PLUS Loan that you receive. This fee helps reduce the cost of making these low-interest loans.<\/p>\n\n\n\n<p><strong>Direct PLUS Loan Interest Rates and Origination Fee<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>Item<\/th><th class=\"has-text-align-center\" data-align=\"center\"><strong>DISBURSED ON OR AFTER 7\/1\/25 AND BEFORE 7\/30\/2026<\/strong><\/th><\/tr><\/thead><tbody><tr><td>Direct Plus (Graduate Students\/Parents) Interest Rates<\/td><td class=\"has-text-align-center\" data-align=\"center\">8.94%<\/td><\/tr><tr><td>Origination Fee<\/td><td class=\"has-text-align-center\" data-align=\"center\">4.228%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Federal Direct PLUS Loan Repayment<\/h2>\n\n\n\n<p>Repayment can be managed on the website of your loan servicer, which will be assigned to you by the U.S. Department of Education. While the interest rate on the loan is fixed, interest starts accruing on the loan at the time of disbursement to Tarleton State University. Payments can be deferred until after graduation, as long as your student is enrolled at least half-time. Accrued interest can either be paid quarterly while you are in school or capitalized (added) to the loan when you enter repayment. You will accrue future interest based on the principle balance while in repayment. The U.S. Department of Education has a&nbsp;<a href=\"https:\/\/studentloans.gov\/myDirectLoan\/repaymentEstimator.action?_ga=2.79107229.825676715.1525631658-578312471.1525631658\" target=\"_blank\" rel=\"noreferrer noopener\">Loan Repayment Estimator<\/a>&nbsp;you can use to help estimate your loan repayment options.<\/p>\n\n\n\n<p class=\"caution has-texan-white-color has-text-color has-background\" style=\"background-color:#333333\">The Department of Education deducts the origination fee before you receive any loan money, so the loan amount you receive will be less than the amount you will have to repay.<\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Additional Information<\/h2>\n\n\n\n<p>If you have other questions about interest, please email the&nbsp;<a href=\"mailto:finaid@tarleton.edu\">Office of Financial Aid<\/a>, or call us at&nbsp;<a href=\"tel:+12549689070\">254-968-9070<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Parent Loans for Undergraduate Students (PLUS) Direct PLUS Loans are offered by the Department of Education to parents of dependent undergraduate students to assist in meeting education costs. Eligible parents &#8230;<\/p>\n","protected":false},"author":62,"featured_media":580,"parent":837,"menu_order":2,"comment_status":"closed","ping_status":"closed","template":"template-fullwidth.php","meta":{"_acf_changed":false,"inline_featured_image":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"class_list":["post-869","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"coauthors":[],"author_meta":{"author_link":"https:\/\/www.tarleton.edu\/finaid\/author\/kyle-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-3\/","display_name":"kyle"},"relative_dates":{"created":"Posted 4 years ago","modified":"Updated 2 months ago"},"absolute_dates":{"created":"Posted on July 11, 2022","modified":"Updated on February 19, 2026"},"absolute_dates_time":{"created":"Posted on July 11, 2022 12:49 pm","modified":"Updated on February 19, 2026 9:45 pm"},"featured_img_caption":"","featured_img":false,"series_order":"","_links":{"self":[{"href":"https:\/\/www.tarleton.edu\/finaid\/wp-json\/wp\/v2\/pages\/869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.tarleton.edu\/finaid\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.tarleton.edu\/finaid\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.tarleton.edu\/finaid\/wp-json\/wp\/v2\/users\/62"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tarleton.edu\/finaid\/wp-json\/wp\/v2\/comments?post=869"}],"version-history":[{"count":6,"href":"https:\/\/www.tarleton.edu\/finaid\/wp-json\/wp\/v2\/pages\/869\/revisions"}],"predecessor-version":[{"id":2695,"href":"https:\/\/www.tarleton.edu\/finaid\/wp-json\/wp\/v2\/pages\/869\/revisions\/2695"}],"up":[{"embeddable":true,"href":"https:\/\/www.tarleton.edu\/finaid\/wp-json\/wp\/v2\/pages\/837"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.tarleton.edu\/finaid\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/www.tarleton.edu\/finaid\/wp-json\/wp\/v2\/media?parent=869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}