Federal Parent Loans for Undergraduate Students (FPLUS)
Biological or adoptive parents of dependent undergraduate students who enroll at least half-time may borrow funds under this loan program on behalf of the student. Parents must be U.S. citizens or eligible non-citizens and cannot be in default on any federal education loans or owe an overpayment on a federal education grant. Parents can borrow funds up to the cost of attendance minus other financial aid the student has been awarded. Parents must have a good credit history to qualify.
MyUHV shows the loan amounts the student is eligible for after the student's loan eligibility has been computed. The student must accept/reject all or part of the loan(s) by logging into myUHV. The loan will be disbursed to the student's account once eligibility is reviewed and the refund will go to the designatee chosen on the PLUS eMPN.
For Direct PLUS Loans first disbursed on or after July 1, 2016, and be
|Direct PLUS Loans (Parents and Graduate or Professional Students)||6.31%|
|Loan Type||First Disbursement Date||Loan Fee|
|Direct PLUS Loans|
|On or after 10/1/16 and before 10/1/17||4.276%|
How to Apply for Federal Parent PLUS Loans
- Complete and submit the PLUS Request Process.
- First-time PLUS borrowers must complete a Parent PLUS Master Promissory Note. One parent will need a FSA ID and Password.
- If you receive notification requesting submission of an endorser addendum, please complete the process at https://studentloans.gov.
- A credit check will be performed during the application process. If you have an adverse credit history, you may still receive a Direct PLUS Loan. Information is located at studentaid.ed.gov.
How to Accept A Parent PLUS Loan Award
Award notices are sent to the student's UHV email account. The student will need to log into myUHV / UHV Self Service / Financial Aid /. Check the accept or decline box or reduce the awarded amount.
Once UHV receives an PLUS Loan Request acknowledgment, an award will be placed on the students Award Package. Accept or Decline the loan award in myUHV.
If you receive a Direct PLUS Loan as a graduate or professional student, you don't have to make any payments while you're enrolled in school at least half-time, and for an additional six months after you graduate, leave school, or drop below half-time enrollment.
If you are a parent borrower, you’ll generally be expected to start making payments on your Direct PLUS Loan once your loan is fully disbursed (paid out). However, you may request a deferment while your child is enrolled at least half-time and for an additional six months after your child graduates, leaves school, or drops below half-time enrollment. You don't have to make any payments while your loan is deferred. If the school your child is attending requires you to submit your request for a Direct PLUS Loan at StudentLoans.gov, you’ll have the option of requesting a deferment as part of the loan request process. You can also contact your servicer to request a deferment. Information is located at studentaid.ed.gov.