Direct Parent PLUS Loans

Parent PLUS Loans are low-interest federal direct loans available to the parents of eligible dependent undergraduates who file the Free Application for Federal Student Aid (FAFSA) and have exhausted their eligibility for the Direct Stafford Loans. Students must be enrolled in at least 6 credits in any given semester to qualify.

Unlike the Direct Stafford Loans, Parent PLUS Loans require that the borrower pass a simplified credit check; parents who fail the credit check can still get the loan if they are able to find an endorser who can pass the credit check, otherwise their child will be offered the independent undergraduate equivalent in the Direct Stafford Loans.

The Parent PLUS limit is the total Cost of Attendance (as determined by the school) minus other aid received. UMB does not automatically award Parent PLUS Loans. The parent must first Apply for a Parent PLUS Loan on and complete a Master Promissory Note (MPN) for the Parent PLUS Loan on Once that is complete, the student must request a Parent PLUS Loan Request Form from their counselor and the form must be turned in before UMB will award and process a Parent PLUS Loan.

Parents have the choice to make their first payment either 60 days after the loan is fully disbursed or (as of July 1, 2008) six months after the student drops below half-time status.