Loans for Parents

Parent PLUS Loan

Federal Parent PLUS loans are non-need credit-based loans that help parents and guardians borrow up to the cost of attendance for their undergraduate dependent children.

Eligibility for the PLUS Loan requires both the student and the parent to be U.S. citizens or eligible non-citizens.
A modest credit check is required for the parent or guardian who is borrowing the loan. If the loan is credit denied and subsequently approved (either through appeal process or credit worthy endorser), the borrower will have to complete Department of Education required online PLUS counseling before the loan can be disbursed.
Interest rate fixed at 8.05 with a 4.228% origination fee on each disbursement.

To borrow the Parent PLUS loan, please follow the steps below.

Review your Financial Aid Offer to determine the amount of Parent PLUS loan eligibility.
Apply for a Parent Plus Loan the Direct Loan website.
Complete the Parent PLUS Loan Master Promissory Note (MPN) on the Direct Loan website.

Contact Information

Please do not hesitate to contact the Office of Financial Aid if you have questions or concerns.

Office Hours: 8:30am - 4:30pm EST
Email: financialaid@wlu.edu
Telephone: 540-458-8717
Mailing Address:
Washington and Lee University
Office of Financial Aid
204 West Washington Street
Lexington, VA 24450

The Office of Financial Aid does not accept application materials via fax or email. Please use the mailing address above or our document upload site.