Direct Parent PLUS Loan

A FAFSA must be filed on behalf of the student (listing TU’s school code 003185) before TU can determine eligibility for a Direct Parent PLUS Loan (PLUS). Only a parent (or a stepparent whose income was supplied on the FAFSA) can apply for this loan. To request a PLUS loan, the parent must log in to, select “APPLY FOR AID” and click on “Apply for a Parent PLUS Loan” from the dropdown.  Click “START” to “Apply for a PLUS Loan.” Follow the instructions to complete, sign, and submit your PLUS loan application.  Note: All borrower information is about the parent who is applying for the loan. The parent is the borrower not the student.  An independent undergraduate student only has the option to apply for a private loan.

The PLUS loan is administered by the U.S. Department of Education and approval is based on the absence of adverse credit within the last five years, not credit worthiness. The U.S. Department of Education will run a credit check and notify the parent and Student Financial Services of the credit decision. If the PLUS loan is approved, the parent may complete and sign the electronic PLUS Master Promissory Note (MPN) at the completion of the application process or later at the same website. The PLUS MPN is valid for loans made for a dependent student and is good for ten years. If the PLUS loan is denied, the student has the option of accepting an additional Direct Unsubsidized Loan up to $4,000 annually for freshmen and sophomores or up to $5,000 annually for juniors and seniors. If the PLUS loan is later approved due to a credit appeal or an approved endorser, the additional Direct Unsubsidized Loan will be cancelled and the PLUS loan processed. If approved with an endorser, the PLUS MPN cannot be used for multiple PLUS loans, but is only good for the academic year or term the endorsed loan was approved for by the U.S. Department of Education. If approved with a credit appeal, a new PLUS MPN is not required. PLUS credit counseling must be completed for PLUS loans approved with an endorser or credit appeal. PLUS credit counseling may be completed at

The current interest rate for a PLUS loan is determined each June for new loans being processed for the upcoming award year, which runs from July 1 to the following June 30. The fixed interest rate will be for the life of the loan. Interest begins accruing at the time of disbursement. The government will deduct an origination (processing) fee from each PLUS loan disbursement. Refer to for the actual interest rate and origination fee for your PLUS loan.

A PLUS loan is made in two equal disbursements for a two-semester loan. At least one-half of the loan A PLUS loan is made in two equal disbursements for a two-semester loan. At least one-half of the loan period must elapse before the second disbursement can be released. The PLUS loan amount will credit to the student’s Bursar account no earlier than the first day of class each semester. A disbursement funds letter is mailed to the parent’s address once funds are credited. PLUS loan funds that exceed student charges will be refunded to the parent or student as indicated by the parent during the online application process and in coordination with the Bursar’s Office refund guidelines. A parent has the right to cancel all or any portion of the loan within 14 days of the loan crediting the student’s Bursar account. Repayment on a PLUS loan begins once the loan is fully disbursed. The first payment is due 60 days after the final disbursement. A parent may choose to defer repayment while the student for whom the parent borrowed is enrolled at least half-time and for an additional six months after the student ceases to be enrolled at least half-time. Refer to for repayment plans.

2020-2021 Important Loan Information for PLUS/Private Loan Options for Undergraduate Students

All federal loans a parent applies for will be submitted to the National Student Loan Data System (NSLDS) and will be accessible by guarantee agencies, lenders, loan servicers, and schools determined to be authorized users of the data system.