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SUMMER 2024 DIRECT PLUS LOAN FACT SHEET FOR UNDERGRADUATE STUDENTSA Federal Direct PLUS is a creditbased loan which is available to assist parents with the costs of higher education. The Direct PLUS

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How to fill out federal direct parent plus

01

Log in to the student's FAFSA account and select 'Apply for a Parent PLUS Loan'.

02

Complete the application form with the parent's information, including their SSN and income details.

03

Decide on the loan amount needed and review the terms and conditions before submitting the application.

04

If approved, the parent will need to complete a Master Promissory Note (MPN) and undergo a credit check.

05

Once everything is processed, the funds will be disbursed to the school to cover the student's expenses.

Who needs federal direct parent plus?

01

Parents of dependent undergraduate students who require additional funding for college expenses may consider applying for a Federal Direct Parent PLUS loan.

02

This loan can help bridge the gap between financial aid received and the total cost of attendance for the student.

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What is federal direct parent plus?

Federal Direct Parent PLUS Loans are federal loans that parents can take out to help pay for their dependent child's college education.

Who is required to file federal direct parent plus?

Parents of dependent undergraduate students who need additional financial assistance for their child's education are required to file for a Federal Direct Parent PLUS Loan.

How to fill out federal direct parent plus?

To fill out the Federal Direct Parent PLUS Loan application, parents must complete the FAFSA and then apply for the PLUS loan through the Federal Student Aid website or the school’s financial aid office.

What is the purpose of federal direct parent plus?

The purpose of the Federal Direct Parent PLUS Loan is to provide parents with funds to help cover the cost of their child's higher education, including tuition, room and board, and other educational expenses.

What information must be reported on federal direct parent plus?

When applying for a Federal Direct Parent PLUS Loan, parents must report information such as their income, any existing debts, and their child's school information.

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