Parent Loan for Undergraduate Students (PLUS)

Parents of dependent students (as determined by the FAFSA) may borrow up to the financial aid cost of attendance less any other financial aid received. Only biological parents, legally adoptive parents, or stepparents may borrow this loan on behalf of their student.

Requirements

The parent borrower must meet the following conditions:

  • Their child must have a completed FAFSA with parent information for the appropriate school in which the loan will be originated
  • Must be a U.S. Citizen, or
  • U.S National, or
  • A citizen of the Freely Associated States: The Federated State of Micronesia and the Republics of Palau and the Marshall Island, or
  • An eligible noncitizen

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 Department of Education's Direct Loan Servicing Center is the holder of this loan when a parent enters into repayment.

Estimate how much you should borrow

Use the Parent Debt Calculator to get an estimate of how much you should borrow for your student's education based on your current income and debt load.

Interest, Repayment and Loan Origination Fee

While the student is attending school, the interest accumulates on this loan. The parent must either pay the interest on this loan quarterly to the Direct Loan Servicing Center or you let the interest accumulate and capitalize. Capitalized interest makes the loan payback more expensive over time.

No payment on the principal balance of the loan is necessary so long as the student remains half time (six credit hours undergraduate and five credit hours graduate). A deferment while the student is in school can be requested by completing the Direct PLUS Loan Request found on StudentLoans.gov.

Your student can get official verification of their enrollment to attach to the in-school deferment form by visiting the Enrollment Verification page.

The interest rate is fixed at 7.00% for Direct PLUS Loans first disbursed on or after July 1, 2017, and before July 1, 2018. Yearly loan amounts the parent may borrow depend on the student's credit hours enrolled per semester.

There is a 4.6% loan origination fee associated with this loan. The fee will be proportionally deducted from each loan disbursement.

To Apply

Follow the instructions in our Parent PLUS Loan Application Guide.

Re-Application

Once a parent signs and completes a master promissory note online with the U.S. Department of Education, you do not need to complete another MPN as long as your student attends UNLV. However, if the parent loan is approved using an endorser, a new master promissory note is required for each endorser approved loan.

Payment of Cashiering Account

If the PLUS loan is large enough to pay the balance in the student's UNLV Cashiering account, the parent has two options:

  1. refund check or direct deposit is produced to the parent for the student's educational expenses.
  2. The parent can allow UNLV to produce a refund check or direct deposit to the student. Your preference can be indicated in the online Parent PLUS Loan application process.

An example to determine how much a parent may borrow in a Parent PLUS loan, if necessary:

Cost of Attendance (COA):
Expense Cost
Tuition & Fees $6,192
Books $1,298
Room & Board $9,190
Transportation $2,730
Personal/Miscellaneous $2,952
Total $22,360
Amount COA
$22,360  
- $3,500 subsidized loan offered to student
- $2,000 unsubsidized loan offered to student
- $1,000 scholarship offered to student
= $15,860 up to potential PLUS loan borrowing by the parent