The Federal Direct Parent Loan for Undergraduate Students (PLUS) helps parents assist with their student’s educational costs. PLUS loans enable parents with good credit histories to borrow to pay the education expenses of each child who is a dependent undergraduate student enrolled at least half time (six credit-hours).
- Must be the biological or adoptive parents of the student
- Legal guardians, grandparents and/or other 3rd parties may NOT apply
- Step-parents may apply if married to the biological or adoptive parent and the step-parent's income and assets are listed on the FAFSA
- Parent applying for a Direct Parent PLUS loan must not be in default on any federal student or parent loans
For Undergraduate Students:
- Must be enrolled at UTSA at least 1/2 time (6 hours)
- Must be meeting Satisfactory Academic Progress
- Student must be considered dependent
- Must have a FAFSA on file
|After July 1, 2015||
|4.292 % is deducted proportionally from each loan disbursement|
Parent PLUS loans are the financial responsibility of the parents, not the student. For more information on repayment of PLUS, visit the Direct Loan Program FAQs page.
- First payment is due 60 days after the PLUS loan is fully disbursed*
- Standard repayment is 10 years
- Interest accrues while the student is enrolled
*Parents may contact the Direct Loan Servicing Center at 1-800-848-0979 to request a deferment of payment based on the dependent student's enrollment status.
Parent PLUS loans are credit-based and parents must be credit-approved in order to receive the PLUS loan.
IMPORTANT: The Parent PLUS application for 2015-2016 will become available at www.studentloans.gov on May 1, 2015.
Steps to Apply for a Parent PLUS Loan:
- The student must have a valid FAFSA on file with UTSA.
- The parent must log in to www.studentloans.gov using his or her FSA ID.
- Once logged in, the parent should click on "Request Direct PLUS Loan" and select "Parent PLUS" as the loan type. All required fields must be filled in.
- At the end of the application, the parent will be asked to consent to a credit check and will receive an immediate credit decision.
- If approved for the loan, the parent must sign an electronic Master Promissory Note (eMPN) for the PLUS Loan at www.studentloans.gov. If the parent was initially denied the PLUS loan but successfully appealed or obtained a credit-worthy endorser, the parent must ALSO complete a PLUS counseling session at www.studentloans.gov.
- The parent must submit the Parent PLUS Request Form for the applicable aid year if approved or denied in order for the school to process the requested loan funds.
- If the parent was approved for the Parent PLUS Loan, keep in mind that the credit approved is only valid for 180 days and will not be extended. If the credit approval expires prior to submission or processing of the Parent PLUS Request Form, the parent will be required to reapply (consent to a new credit-check) at www.studentloans.gov.
- If the parent was denied the Parent PLUS Loan, the parent may select the option on the Parent PLUS Request form to have the student offered the additional unsubsidized Stafford loan due to the denial. The maximum amount that can be offered is $4000 for freshman and sophomores or $5000 for juniors and seniors.