Parent PLUS Loans

The Federal Direct PLUS Loan Program assists eligible parents in meeting educational expenses by allowing parents to borrow up to the cost of attendance minus other resources.

The Parent PLUS Loan is only available to parents of undergraduate students who are enrolled at least half-time. A Parent PLUS Loan cannot be accepted in MyRED by the student or parent. An application is required and can be found on the Student Aid website. A credit check is completed with the application. Parents are notified immediately upon completing the application whether it was approved or denied.

Parents will need to log in with their own StudentAid.gov account that was created for the FAFSA Form. If a parent is borrowing this loan for the first time, they will need to complete a master promissory note for this loan. Within the application, parents can request repayment of the Parent PLUS Loan be deferred while their student is enrolled at least half-time. They may also request a six-month deferral of repayment after their student graduates or falls below half-time status.

This is a loan under the parent’s name and the parent is solely responsible for this loan.

Access the Parent PLUS Loan

• Log in to the StudentAid.gov website. 
• Select "PLUS Loan: Grad PLUS & Parent PLUS" from the "Loans and Grants" tab.
• Select "I am a Parent of a Student" to access the Parent PLUS Loan Application.
• If you have multiple students in college, a separate Parent PLUS Loan application is required for each student.

Credit Check

If you have a security freeze on your credit file, you must lift or remove that freeze at each credit bureau before you can continue. The decision resulting from your credit check will be sent to the university.

Should your application be denied, you may still be eligible to receive Direct PLUS Loans by either:

• Finding an endorser (someone who agrees to repay the Parent PLUS Loan if the borrower does not make payments) and completing Parent PLUS Loan Credit Counseling.
• Appeal the credit decision with the Department of Education due to extenuating circumstances on StudentAid.gov.

If neither of the above options are possible for you, your student may be eligible for additional unsubsidized loan due to your Parent PLUS Loan denial. Please have your student contact Husker Hub for more information.

For information on how to set up direct deposit for your Parent PLUS Loan, follow our tutorial.

Set Up Direct Deposit for Loans