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 PLUS 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 designee chosen on the PLUS eMPN.
For Direct PLUS Loans first disbursed on or after July 1, 2018
|Direct PLUS Loans (Parents and Graduate or Professional Students)||5.3%|
|Loan Type||First Disbursement Date||Loan Fee|
|Direct PLUS Loans||On or after 10/1/19 and before 10/1/20||4.236%|
|Direct PLUS Loans||On or after 10/1/20 and before 10/1/21||4.228%|
How to Apply for Federal Parent PLUS Loans
- The student must complete the Free Application for Federal Student Aid (FAFSA).
- Parents must 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 studentaid.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
Once UHV receives a PLUS Loan Request acknowledgment, an award may be placed on the students Award Package. Award notices are sent to the student's UHV email account. The student will need to log into myUHV Self Service / Financial Aid / Accept or Decline Awards. Check the accept or decline box or reduce the awarded amount.
If you are a parent borrower, you’ll generally be expected to start making payments on your Direct PLUS Loan once the 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 studentaid.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.