Close

Quick Links

Find Faculty Experts Search CMC News Search Ath Events

Federal Direct PLUS

PARENTS, PLEASE NOTE: If you plan to borrow a Direct PLUS loan, we ask that you begin the federal loan application for Federal Direct PLUS on or after August 1st before the student begins the academic year.

PLUS Interest Rate and Fees

For current information on Direct PLUS interest rates and fees, please review the PLUS web page. Interest begins accruing after the first disbursement and repayment of both the principal and interest begins within 60 days after the final disbursement of the loan.

Federal Direct PLUS is available to parents of undergraduate students if they are credit-worthy applicants. A parent of an undergraduate student may borrow up to the total estimated cost of attendance, less financial aid resources received by the student. Because the funding for Federal Direct PLUS comes straight from the U.S. Department of Education, students and parents do not have to find a lender to borrow through this program.

The Federal Direct PLUS program offers parents an excellent low-interest loan alternative for helping with the cost of their student's education. Parent PLUS loan borrowers must pass a credit check conducted by the Direct Loan Servicing Center. If a parent application is denied as a result of the credit check, the student may be eligible for an additional Direct unsubsidized Loan. First- and second-year students may borrow an additional $4,000; third- and fourth-year students may borrow an additional $5,000. Parents and their dependent child must be U.S. citizens or eligible non-citizens and not in default on any federal education loans or owe an overpayment on a federal education grant. You can find more information about these requirements in Funding Education Beyond High School: The Guide to Federal Student Aid.

  1. Complete the Free Application for Federal Student Aid (FAFSA) if you have not already done so. Our federal school code is 001170. You will need your U.S. Department of Education FSA ID to sign in. Please request an FSA ID if you do not have one.

  2. Complete the Federal Direct Parent PLUS application.You will need your U.S. Department of Education FSA ID to complete the application. 

  3. Complete both sides of the Federal Direct PLUS Loan Request Form. When complete, submit it to the Office of Financial Aid- form available via Net Partner. Email us if you do not see the form listed.

  4. Make sure to sign in and follow all instructions carefully to complete this process. You will need your U.S. Department of Education FSA ID to sign your Master Promissory Note electronically. 

  5. Once you have completed everything, CMC will be notified. Then, you will receive a disclosure statement that gives you specific information about the total loan amount, loan fees and the expected loan disbursement dates. You can contact the Direct Loan Servicing Center.

There are several steps that you need to complete in order to receive your Federal Direct Graduate PLUS Loan. Please follow the steps listed below carefully to begin the process.

  1. Complete the Free Application for Federal Student Aid (FAFSA) if you have not already done so. Our federal school code is 001170.
  2. Complete the Federal Direct Loan Entrance Counseling Session. You will need your U.S. Department of Education FSA ID. The counseling session will explain various aspects of student loans and your rights and responsibilities. It concludes with a 15-question quiz. You must answer all questions correctly in order to successfully complete the session. Login and submit the results using your Social Security Number, first 2 letters of your last name, date of birth and your FSA ID. You may wish to print a copy of the Rights and Responsibilities page for your records.
  3. Complete both sides of the Federal Direct PLUS Loan Request Form. When complete, submit it to the Office of Financial Aid- form available via Net Partner. Email us if you do not see the form listed.
  4. Make sure to sign in and follow all instructions carefully to complete this process. You will need your U.S. Department of Education FSA ID to sign your Master Promissory Note electronically. Please request an FSA ID if you do not have one.

The graduate student borrower has the right to reduce or cancel their loan within 14 days after it credits their student account. This may be done by notifying the Financial Aid Office in writing. You can contact the Direct Loan Servicing Center at (800) 848-0979 or read these  FAQs for Graduate PLUS

If the Federal Direct PLUS (for parent) disbursement generates a credit balance on the student account after all college charges are paid, the refunded amount will go to the parent borrower unless the parent borrower authorizes the refund to be released to the student.

Please contact the Office of Student Accounts for more information.