Parent PLUS Loan

The Parent PLUS Loan is a credit-based, federal loan program for parents of dependent undergraduate students. Parents may borrow up to the cost of attendance minus other financial aid received, including any other additional loans.

How to request a Parent PLUS Loan

To apply for a Federal Direct PLUS Loan, you and your parents must do the following:

  • Complete the Free Application for Federal Student Aid (FAFSA) online. You will need Dominican University’s school code (001750) to have the results sent to Dominican University. The student must have a Free Application for Federal Student Aid (FAFSA) on file on order to receive PLUS loan funding.
  • Complete Dominican University’s Federal Direct Parent PLUS Loan Authorization Form and submit it to the Office of Financial Aid.

The parent who is applying for the loan will need to complete a credit check and Master Promissory Note at the Direct Loans website, The parent borrower will need to complete the section “Request a PLUS Loan”, also found at the Direct Loans website.

If a parent is denied credit approval for the PLUS Loan, there are a few options:

  • The parent may appeal the credit decision to the Department of Education.
  • The parent may add a credit-approved endorser in order to secure the requested PLUS loan amount, OR
  • The student may be eligible to borrow additional unsubsidized student loan funds.

PLUS loans are not automatically renewed each year. You and your parent must complete a FAFSA, Dominican University’s Federal Direct PLUS Loan Authorization Form and the “Request a PLUS Loan” section at the Direct Loans website each year. 

Loan Fees

The interest rate on the Parent PLUS Loan is fixed. In addition, the borrower is charged an origination fee of the amount of the total loan. The origination fee is deducted from the loan before the student receives the loan funds.  Information on interest rates and origination fees can be found at

Loan Disbursements

Your Federal Direct PLUS Loan funds will be disbursed directly into your Dominican University student account. Funds are first used to pay tuition and other university expenses. Loans are disbursed in equal amounts for each term that your loan was approved for. If you are enrolled less than half time in any term, you cannot receive federal loan funds for that term.  


Repayment (principal and interest) on the Parent PLUS Loan begins after the loan is fully disbursed, but may be deferred while the student is enrolled at least half time.