Parents of dependent students (as determined by the Free Application for Federal Student Aid or FAFSA) may borrow up to the financial aid cost of attendance less any other financial aid received. Visit Tuition and College Costs to learn more about tuition and fees and cost of attendance at UNLV.
In order to aid in the timely processing of PLUS loan applications for Fall 2023 disbursement, please complete all portions of the PLUS loan process on studentaid.gov prior to August 1, 2023. This includes the application with credit check, the Master Promissory Note (MPN), as well as endorser addendum and/or credit counseling, if necessary. Please note, any PLUS loans which are not complete (lacking any of the necessary aforementioned components) on or before August 1, 2023 may be subject to processing delay, and may not be applied to the student's UNLV account before the Fall 2023 tuition bill is due. The Office of Financial Aid & Scholarships asks students to plan accordingly.
Requirements
The parent borrower must:
- Be the biological or adoptive parents, (or in some cases, the stepparent) of a dependent undergraduate student enrolled at least half-time at an eligible school;
- Be a U.S. Citizen or National, Permanent Resident or Other Eligible Non-Citizen; and
- Have a valid Social Security Number
Students must be enrolled at least half-time to be considered for this loan. However, the loan is in the parent's name only. The U.S. Department of Education will assign a loan servicer who is the servicer of the PLUS loan when a parent enters into repayment. Visit Federal Student Aid - Parent PLUS Loans to learn more about the parent PLUS loan.
Interest, Repayment and Loan Origination Fee
During any period when you are not required to make payments on the PLUS loan, the interest accumulates on this loan. A borrower may choose to pay the accrued interest or allow the interest to be capitalized (which is added to the loan principal balance) when payments are required.
If the borrower requests a deferment on the PLUS application, no payment is necessary while the student enrolls at least half-time (six credit hours undergraduate) and for an additional six months after the student graduates, leaves school, or drops below half-time enrollment. A deferment while the student is in school can be requested by completing the Direct PLUS Loan Request found on Apply for a PLUS Loan for Parents.
Students can request an official verification of their enrollment to attach to the in-school deferment form by visiting the Enrollment Verification page.
For Direct PLUS Loans first disbursed on or after July 1, 2023, and before July 1, 2024, the interest rate is 8.05%. This is a fixed interest rate for the life of the loan. Yearly loan amounts the parent may borrow are dependent upon the student's credit hours enrolled per semester.
There is a 4.228% loan origination fee associated with this loan for any PLUS loan that disburses on or after October 1, 2020 and before October 1, 2024. The fee will be proportionally deducted from each loan disbursement.
To Apply
Visit “Apply for a Plus Loan for Parents" and follow the instructions listed on the U.S. Department of Education’s website. If approved for the parent PLUS loan, the University of Nevada, Las Vegas (UNLV) Office of Financial Aid & Scholarships will be notified electronically and will apply the loan to the student’s account as long as all documentation has been completed.
Re-Application
Once a parent signs and completes the parent PLUS MPN with the U.S. Department of Education, the parent may use the same MPN for more than one PLUS loan over a period of up to ten years. However, if the parent loan is approved using an endorser, a new MPN is required for each endorser approved loan.
Payment of Cashiering Account
If the PLUS loan is large enough to pay the full tuition and fees owed and a refund is created on the student's MyUNLV account, the parent has two options on how a refund will be processed by the UNLV Office of Cashiering and Student Accounts:
- A refund check is produced to the parent for the student's educational expenses, OR
- The parent can allow UNLV to produce a refund check or direct deposit to the student.
Please note, the parent will indicate their refund preference online on the Parent PLUS Loan application process.