Federal Direct PLUS Loan Program

Helpful Links

Master Promissory Note
e-MPN
800.557.7394

Direct Loan Applicant Services
Phone No: 800.557.7394
Email: CODsupport@acs-inc.com
Fax: 877.623.5082

Direct Loan Borrower Services
Studentloans.gov

National Student Loan Data System
National Student Loan Data System (NSLDS)

Direct Loan Consolidation
800.557.7392
www.loanconsolidation.ed.gov

Federal PLUS Loan Process 

Federal Direct PLUS Loan Borrower Instructions

  1. Click here and under "Manage My Direct Loan" sign in using your 4 digit pin used to sign the FAFSA.
  2. Then select "Start PLUS Application Process" to complete the application and credit check.
  3. Once the PLUS Application has been completed you must complete the Master Promissory NoteSelect "Complete Master Promissory Note.
  4. All PLUS loans will be processed as a Fall/Spring loan with two equal disbursements.  If you choose "Maximum Loan Amount" on the application your loan amount will be calculated by subtracting your student's aid package from the overall cost of attendance.  Please have your student visit "YOUR CONNECTION" for exact cost of attendance figures. 

    Please note:
     It will take approximately 2-3 weeks for the Financial Aid Office to process your Federal PLUS loan.  Also, you must use Windows Explorer or Firefox 3.6.3 to complete the PLUS Loan process.  The Department of Education currently does not support Safari.

Federal Direct PLUS Loan
There are no set limits for Direct PLUS Loans, but you may not borrow more than the cost of your child's education minus any other financial aid received. To be eligible for a PLUS Loan, you must not have an adverse credit history.  If you are found to have an adverse credit history, you may still borrow a PLUS Loan if you get an endorser who does not have an adverse credit history. (Refer to Step 1 above and select "Endorse a PLUS Loan")An endorser is someone who agrees to repay the Direct PLUS Loan if you do not repay the loan.  The endorser may not be the student on whose behalf a parent obtains a Direct PLUS Loan.

Dependent students whose parents have applied for but were unable to get a PLUS Loan are eligible to receive additional Direct Unsubsidized Loan funds.  Freshmen and Sophomore students can receive an additional $4000 in an Unsubsidized Stafford loan for the academic year and Junior and Seniors can receive an additional $5000 in an Unsubsidized Stafford loan if the parent is denied a PLUS loan.  The Financial Aid Office will directly send a letter to the student requesting permission to award the additional Unsubsidized Stafford loans.

Fees and Interest Rebate

Academic Year Origination Fee
Loan disbursed on or after Oct 1, 2014 and before Oct 1, 2015 4.292%
Loan with 1st disbursement after 12/1/2013 4.288%

*The Up-front Interest Rebate percentage is the amount given to borrowers after the Origination Fee has been deducted from each loan disbursed.  Parents must make all of the first 12 required monthly payments on time or the rebate amount will be added back to the principal balance of the loan.

Interest Rate

Academic Year

Interest Rate
2014-2015 7.21%

Page modified 7/16/14