Federal Parent Loan

Borrowing a Parent PLUS Loan

If you would like to apply for the Federal Parent PLUS loan you are eligible for, follow the steps below. 

Step 1: Review your child’s Financial Aid Notification online to determine your Parent PLUS loan eligibility.

Step 2: Fill out the Master Promissory Note on the Federal Student Aid website. 

Step 3: Submit your PLUS Loan Application on the Federal Student Aid website.

You do not need to borrow the full amount that is offered to you. Loan amounts can be adjusted directly in your child’s Financial Aid Notification letter. 

Please review the information about the Parent PLUS Loan below.

Federal 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. 

• Starting July 1, 2026, Parent PLUS Loans will be capped at $20,000 per year per dependent child, with a lifetime borrowing limit of $65,000 per dependent child, due to recent federal changes.
• Your child must submit the FAFSA application to determine eligibility.
• Current information on Interest Rates and Origination Fees is available on the FSA website.
• 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 an 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.
• Parents borrowing a Federal Parent PLUS Loan should familiarize themselves with their Borrower’s Rights and Responsibilities.

NSLDS Reporting

Information about your federal loan will be reported to the National Student Loan Data System (NSLDS). The information submitted will be accessible to authorized users, including federal and state agencies, lenders, and guaranty agencies, for purposes related to the administration of federal student aid programs.

For more information about Federal Parent Loans, please reach out to the Office of Financial Aid at financialaid@wlu.edu or 540-458-8717.