Federal Direct Parental Loan for Undergraduate Students (PLUS)

This loan is not based on financial need, but must be within the cost of attendance determined by the university. The amount a parent can borrow is the difference between the cost of attendance and financial aid eligibility.

For PLUS loans first disbursed on, or after July 1, 2006, there will be a fixed rate of 7.9%. Repayment begins within 60 days of the full loan disbursement. Application forms are available in the Office of Student Administrative Services.

Application requests are submitted to Student Administrative Services. Lynn requires that a valid FAFSA is on file prior to our certification of a PLUS loan. If a parent is denied a Federal PLUS loan due to credit reasons, the parent may appeal the denial with the Direct Loan Origination Center or reapply with a credit-worthy co-borrower. The Direct Loan Origination Center can be reached at (800)-557-7394.

Here are the steps to complete the Parent PLUS Loan Process:

Step One:

Complete the Federal Application for Federal Student Aid (FAFSA). To be eligible for the Direct Parent PLUS loan, the student must be enrolled in a degree-granting program for at least six credits each term. Please note that federal regulations do not allow PLUS loan applications to be processed for an outstanding balance that is associated with an academic year that has already ended.

Step Two:

All Direct Parent PLUS loan borrowers must complete a PLUS Loan Application. To complete the Parent PLUS application, go to studentloans.gov and select "Request PLUS Loan" and then "Parent PLUS." The parent will also be required to use their U.S. Department of Education issued PIN to complete the online MPN. Parents who do not have a PIN or cannot recall their PIN, should go to www.pin.ed.gov to request one. Please note that it may take up to ten business days to receive a PIN.

Need-based Aid: No

Award Amount: Up to the cost of attendance

This aid is for All Dependent Students

Enrollment Requirements: At least half-time enrollment status

Application Form/Instructions:

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