Parent PLUS Loans

Parents can take PLUS Loans to pay for education expenses of dependent undergraduate students who are enrolled at least half-time.

PLUS loans are processed through the Financial Aid Office and are part of a student's financial aid package.

PLUS loans are unsubsidized and repayment begins when funds are disbursed.

Credit checks are required.  A co-signer may be needed if the original applicant does not qualify.

Loan funds are delivered to the Loan Office for disbursement in two equal payments.  Checks are made out jointly to the University and to the parent.

If the student has no balance owing to the University, the check will be endorsed by the University and forwarded to the parent for disposition.

If the student has a balance owing to the University, the check will be forwarded to the parent for endorsement and return.  The check will then be applied to the student's account and a refund check will be issued to the parent for any excess balance.  Parents may opt to have the refund issued directly to the student.

Refund balances (if any) must be used for educational purposes.

The interest rate can change each year but will not exceed 9%.

Please direct questions to Pat Talley in the University Loan Office at (903) 886-5993.