Parent PLUS Loan

The Federal Direct Parent Loan for Undergraduate Students (PLUS) helps parents assist with their student’s educational costs. PLUS loans enable parents with good credit histories to borrow to pay the education expenses of each child who is a dependent undergraduate student enrolled at least half time (six credit-hours).

Eligiblity Requirements
Interest Rate & Origination Fees
Repayment
How to apply

Eligibility Requirements for Parent PLUS

For Parents:

• Must be the biological or adoptive parents of the student
  • Legal guardians, grandparents and/or other 3rd parties may NOT apply
  • Step-parents may apply if married to the biological or adoptive parent and the step-parent's income and assets are listed on the FAFSA
• Parent applying for a Direct PLUS loan must not have defaulted on any previous student or parent loans

For Undergraduate Students:

• Must be enrolled at UTSA at least 1/2 time (6 hours)
• Must be meeting Satisfactory Academic Progress
• Student must be considered dependent
• Must have a FAFSA on file

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Interest Rate & Origination Fees

*The total origination fee is 4% however from July 1, 2011 through June 30, 2012, Direct Loans offered a 1.5% rebate on this origination fee. As of July 1, 2012, the 1.5% rebate will be discontinued.

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Parent PLUS Repayment

Parent PLUS loans are the financial responsibility of the parents, not the student. For more information on repayment of PLUS, visit the Direct Loan Program FAQs page.

• First payment is due 60 days after the PLUS loan is fully disbursed*
• Standard repayment is 10 years
• Interest accrues while the student is enrolled

*Parents may contact the Direct Loan Servicing Center at 1-800-848-0979 to request a deferment of payment based on the dependent student's enrollment status.

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How to Apply for a Parent PLUS Loan

Parent PLUS loans are credit-based and parents must be credit-approved in order to apply. Please visit our Parent PLUS Loan application steps for details.

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