Federal Direct PLUS (Parent Loan for Undergraduate Students) loans are federal loans that parents of dependent undergraduate students can use to help pay for college or career school. You must complete a new Direct PLUS Application for each year you wish to receive a parent PLUS loan.
Direct PLUS Loan borrowers cannot have an adverse credit history (a credit check will be done upon applying). In addition, the parent or the dependent student must not be in default on any federal education loans or owe an overpayment on a federal education grant, and must meet other general eligibility requirements for the Federal Student Aid programs.
Should the parent be denied on a stand alone basis, the U.S. Department of Education does offer the option of applying with an endorser who does not have an adverse credit history. An endorser is someone who agrees to repay the Direct PLUS Loan if the borrower does not repay the loan. In some cases, a parent may obtain a Direct PLUS Loan if they submit satisfactory documentation to the U.S. Department of Education explaining the extenuating circumstances related to the parent's adverse credit history.
Beginning July 1, 2026, Parent PLUS loans will be capped at an annual limit of $20,000 per student and a lifetime aggregate limit of $65,000 per student.
Borrowers with an existing PLUS Loan disbursement prior to July 1, 2026, may continue to borrow under the previous limits for a specified period, which may be up to three years for some programs.
We encourage you to apply for a PLUS Loan for the current academic year to take advantage of these benefits while still eligible under the previous limits.
If you receive a federal student loan, you will be required to repay that loan with interest. Make sure you understand how interest is calculated and the fees associated with your loan. Both of these factors will impact the amount you will be required to repay.
Learn more about the current federal interest rates.
The Federal Direct PLUS Loan funds will be sent via EFT (Electronic Funds Transfer) and will be applied directly to a student's Whittier College account. All loans are funded in two disbursements, Fall and Spring. Provided that the Federal Direct PLUS Loan has been approved and the MPN is complete, the funds will be applied to your student's Whittier College account after the first day of classes each semester.
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 student is enrolled at least half-time and for an additional six months after your student 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 student 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.
During any period when you're not required to make payments, interest will accrue on your loan. You may choose to pay the accrued interest or allow the interest to be capitalized (added to your loan principal balance) when you have to start making payments. Your loan servicer will notify you when your first payment is due.
If you would like to research your alternative loan options, please visit our alternative loan page. This free online resource will help you compare private student loans.
Once we have received notification that the Alternative loan has been approved and the application is complete, we will process your Alternative loan.
