Federal Direct Parent PLUS Loan

The Federal Parent PLUS Loan is a credit based federal loan for parents (biological, adoptive, or in some cases stepparent) of eligible dependent students. Interest that accrues on the loan is not subsidized by the federal government. For interest rates, please refer to the Federal Student Aid Interest Rates website and the Loan Comparison Chart. Repayment can be deferred while the student is enrolled in school for at least half-time.

Eligibility Requirements

You must be a parent of a dependent who meets the following requirements:

Complete the Free Application for Federal Student Aid (FAFSA) and meet federal eligibility requirements of U.S. citizenship or eligible non-citizenship status.
Be degree-seeking. Be enrolled for at least 6 UCF credit hours per semester that count toward degree completion as an undergraduate. At time of disbursement, student must be attending at least 6 UCF hours.
You must also accept/decline the Federal Direct Stafford loan awards (subsidized and/or unsubsidized) listed on your Award File. Leaving these awards in an offered status will prevent the PLUS loan from being processed.
If you were awarded a Federal Parent PLUS Loan during this academic year at another institution, make sure that the remainder of that loan is canceled before applying for a loan at UCF.
Meet the standards of Satisfactory Academic Progress (SAP).
Understand that total aid cannot exceed the cost of attendance. Other aid (Scholarships, fellowships, waivers, etc.) affects financial aid eligibility.

Before you apply for any type of financial assistance, make sure you meet the general eligibility requirements.

How to Apply for the Federal Direct Parent PLUS Loan

File the FAFSA with your student. Use the school code 003954 when applying. UCF’s priority date for filing the FAFSA is December 1st.
Complete the Federal Direct Parent PLUS Loan application within 90 days of each semester.*
Once the application is completed the U.S. Department of Education will conduct a credit review.
After notification that the loan application has been processed and approved, you must complete the online Direct Parent PLUS Loan Master Promissory Note (MPN) if this is your first time borrowing a Federal Direct Parent PLUS loan at UCF, or if you had an endorser on your previous loan.
The U.S Department of Education will notify UCF of the credit decision. Please allow at least 3-4 weeks for award processing and tuition and fee deferment.
We will begin processing loans for the upcoming year in July.

Apply for Parent PLUS

*PLUS Loan Award Year

On Section 2 of the loan application, you must select the appropriate Award Year that corresponds with the loan period for which you are applying. If the Award Year does not correspond to the appropriate Loan Period dates, your loan will not be awarded.

Loan award year periods
Loan Period	Start Date	End Date
Summer 2024	5/13/24	8/02/24

Loan award year periods
Loan Period	Start Date	End Date
Fall 2024	8/19/24	12/07/24
Fall 2024 & Spring 2025	8/19/24	4/29/25
Spring 2025	1/06/25	4/29/25
Summer 2025	N/A	N/A

Parent PLUS Loan Denials & Counseling

Loan Denials

A dependent student whose parent has been denied a Parent PLUS loan during the current aid year may be eligible to receive Federal Stafford loans at the independent level with proof of Parent PLUS loan denial from the lender. A Parent PLUS loan letter of denial from the lender is only valid for one aid year.

If your credit has been denied for the Parent PLUS Loan, you will be given four options on the Direct Loan website application to choose from:

I do not wish to pursue a PLUS loan at this time.

The additional Federal Direct Unsubsidized Stafford loan will automatically be offered to the student, in which the student may choose to accept, reduce, or decline the loan through the myUCF View Financial Aid “Accept/Decline Awards.” Please allow at least two weeks for processing the additional offered loan upon receipt of a PLUS denial.
Undecided.

The additional Federal Direct Unsubsidized Stafford loan will automatically be offered to the student, in which the student may choose to accept, reduce, or decline the loan through the myUCF View Financial Aid “Accept/Decline Awards.” Please allow at least two weeks for processing the additional offered loan upon receipt of a PLUS denial.
I will obtain an endorser.*
- Choose this option if you would like to add a co-signer.
- Parents should notify the SFA Loan Department in order for the PLUS loan to be awarded if your credit is approved with an endorser.
- Borrowers who required an endorser for approval of the PLUS loan must sign.
- Borrowers whose Direct PLUS Loan credit checks are denied on or after March 29th, 2015 and then approved with an endorser, must complete a PLUS Counseling before the Direct PLUS Loan can be disbursed. The U.S. Department of Education will notify the borrower about the PLUS Counseling instructions**.
- If we do not receive an update for a credit approval within 3-4 weeks, the additional Federal Direct Unsubsidized Stafford loan will automatically be offered to the student, in which the student may choose to accept, reduce, or decline the loan through the myUCF View Financial Aid “Accept/Decline Awards.”
I want to appeal the credit decision.*
- Choose this option if you believe the credit check is inaccurate or you can provide updated information about extenuating circumstances.
- Parents should notify the SFA Loan Department in order for the PLUS loan to be awarded if your appeal has been approved.
- Borrowers whose Direct PLUS Loan credit checks are denied on or after March 29th, 2015 and then approved through a credit appeal, must complete a PLUS Counseling before the Direct PLUS Loan can be disbursed. The U.S. Department of Education will notify the borrower about the PLUS Counseling instructions**.
- If we do not receive an update for a credit approval within 3- 4 weeks, the additional Federal Direct Unsubsidized Stafford loan will automatically be offered to the student, in which the student may choose to accept, reduce, or decline the loan through the myUCF View Financial Aid “Accept/Decline Awards.”

*For instructions on how to appeal or how to reapply using an endorser, please contact the Department of Education’s Applicant Services at 1-800-557-7394. If the PLUS credit decision is approved after the parent appeals or reapplies with an endorser, the student is no longer eligible to receive the additional Unsubsidized Stafford loan.

PLUS Counseling

PLUS Counseling is required if the U.S. Department of Education has informed you that you have an adverse credit history and you have obtained an endorser or documented to the satisfaction of the U.S. Department of Education that there are extenuating circumstances related to your adverse credit history.

PLUS Counseling can be completed voluntarily at any time. If PLUS Counseling is completed voluntarily and you are determined to have an adverse credit history by the U.S. Department of Education within 30 days of PLUS Counseling completion, your PLUS Counseling requirement will be considered to be fulfilled.

The Department of Education will email the borrower instructions on how to complete the PLUS Counseling. However, borrowers may also access the PLUS Counseling after they login by selecting PLUS Counseling from the menu, then selecting Parent PLUS to complete the counseling.

Information for Parent PLUS Loan Recipients

Disbursement of Loan

Disbursement of financial aid is the process in which financial aid awards (scholarships, grants, loans, etc.) are posted to the student’s account. As this process takes place, students may see changes to their anticipated aid, awards, and charges. Learn more about loan disbursements.

Loan Adjustment and Reinstatement

The online Loan Adjustment Request form is available at the start of each semester up until the adjustment/reinstatement deadline.

If you would like your PLUS loan eligibility reviewed for either an increase or reinstatement, you may submit an online Loan Adjustment Request Form by the deadlines listed.