Federal Direct PLUS Loan Program

Parents of dependent undergraduate students may borrow up to the cost of attendance minus any other financial aid resources under the PLUS Program.

Application Form

Applicants for these loans are required to complete the Free Application for Federal Student Aid (FAFSA).

Download a PLUS loan application from our resources and forms page and bring the completed application to Office of Financial Aid for certification.


Loans may not exceed the cost of attendance less financial aid. Parents who have no adverse credit history as determined by the Federal Direct Loan Servicer may be eligible. The loan interest rate is variable and is adjusted each year on July 1 with a cap of 9 percent. There is no aggregate loan limit. Borrowers are charged an origination fee and insurance fee, which are deducted from the loan proceeds before disbursement.

Federal Direct Loan Consolidation

The U.S. Department of Education offers a Federal Direct Loan Consolidation Program. The program allows Federal Direct Loan, as well as Federal Family Education Loan (Stafford, PLUS), borrowers to combine one or more federal loans into one new loan.

  • Federal loan programs may be consolidated under the Federal Direct Consolidation Program.
  • Interest is calculated on the weighted average of the interest rates on the loans being consolidated, rounded to the nearest higher 1/8 of 1 percent (not to exceed 8.25 percent). This rate is not variable and applies for the life of the loan.
  • Extends repayment period up to 30 years.
  • No prepayment penalty applies.

For further information or to apply, contact the U.S. Department of Education Federal Direct Loan Consolidation Program at 800.557.7392.

Current Direct Loan Interest Rates

Interest rates for Direct PLUS Loans first disbursed on or after July 1, 2006, have a fixed interest rate of 7.9 percent.

Click here for interest rates for Federal Direct PLUS Consolidation Loans for the period July 1, 2006, through June 30, 2007.