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.