Federal Parent Loans (PLUS)

Chancellor George Blumenthal speaks to entering students and their parents at a Parent Barbecue on move-in weekend.

Parents may borrow up to the full cost of attendance - as established for students by the university - minus any financial assistance the student receives. Borrowers must be US citizens or permanent residents and demonstrate creditworthiness for loan approval. Principal and/or interest payments may be deferred until after the student is not enrolled or is enrolled less than half-time. The parent Loan must be applied for and approved no later than 10 business days prior to the end of your student's term of enrollment for an academic year. Awards not applied for and approved (including all required loan documents) by this time cannot be processed. 

To apply for a Parent Plus Loan complete the next steps:

Step 1: Log-in to studentloans.gov and apply for the loan. You will receive a notification via-e-mail indicating the approval or denial of your parent loan.

Step 2: If your parent loan was approved, sign the Master Promissory Note (MPN).

Step 3: If your loan is denied, contact our office for additional information on other loan options available.

Application- You can apply and complete a PLUS Loan Request beginning June 1

For information on interest rates and loan fees click here.

Eligibility Requirements
  • You must be the parent of a student enrolled at least half-time in a degree of certificate program at a participating school
  • You must be a permanent resident or U.S. Citizen to apply
  • Your student must have a FAFSA on file
Parent Plus Loan Terms
  • Parents of dependent students may borrow up to the cost of attendance minus financial aid and outside resources

  • Begins accruing interest at the time of disbursement

  • Interest and processing fees for the year are determined annually on July 1

  • Processing fee is deducted from each disbursement

  • Credit check required

  • Parents can complete the application and a promissory note at studentloans.gov

Receiving Loan Funds - The student must have a permanent address in MyUCSC. The permanent address must be set to “active” before the loan will disburse. To avoid delays, be sure this address is current and active. Loan funds are credited to the student’s billing account. Any PLUS funds remaining after charges are paid will be given to the student unless the parent borrower requests the excess funds. This request is made when the application is submitted. If the student is on an Education Abroad Program (EAP), the funds will always go to the parent.

Federal Plus Loan & Private Student Loan Comparison Chart - Loans offer you the opportunity to cover the cost of your educational expenses. It is important to explore all options and find what works best for you and your family. The Federal Plus Loan & Private Student Loan Comparison Chart provides you with additional information on the differences between the Federal PLUS Loan and Private Student Loan options for those families who demonstrate creditworthiness and wish to explore alternative options that may better suit your family financial situation.

See Also