Federal Direct Parental Loan for Undergraduate Students (PLUS)

Aid type

Loans

Need-based aid

No

FAFSA required

Yes

Award amount

Up to full tuition

Academic division

  • Day undergraduate
  • Online
  • Day graduate

Student status

New or returning students

Available to international students

No

College

  • College of Aeronautics
  • College of Arts and Sciences
  • College of Business and Management
  • College of Communication and Design
  • College of Education
  • Conservatory of Music

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.

PLUS loans first disbursed on or after July 1, 2023 and before July 1, 2024, have a fixed rate of 8.05%. There is a 4.288% origination fee charged by the federal government. Repayment begins within 60 days of the full loan disbursement.

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 1-800-557-7394.

Loan amount varies.

Information on the application for the loan will be submitted to the National Student Loan Data System (NSLDS) and will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system.

Eligibility

This aid is for new, returning, day, online, transfer, full-time, part-time, freshman, sophomore, junior and senior students.

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.

Instructions

Submit materials to [email protected].