Through the Federal PLUS Loan Program, parents of dependent students may borrow up to the cost of education less any other financial aid received by the student.

To apply for a Parent PLUS Loan, a parent must:

•  complete the FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA)

•  initiate a Federal PLUS Loan application. If you choose one of the recommended lenders below, simply call AES/PHEAA at 1-800-692-7392, or visit their website at www.aesSuccess.org.

•  complete a Master Promissory Note (MPN); After “applying” as instructed above, the MPN will be sent to you to sign; or you can sign on-line at the www.aesSuccess.org website.

The Federal Parent PLUS Loan is a credit-based loan with a fixed interest rate of 8.5%, with default and origination fees of 3%. Students must be enrolled at least half-time in a degree-seeking program for parents to access a PLUS loan.

If a parent is denied a Parent PLUS Loan the student will automatically be considered for an additional unsubsidized Stafford loan in the amount up to $4,000 for freshman and sophomores and $5,000 for juniors and seniors.

Parent PLUS Loan Recommended Lender List

Borrowers may choose any participating lender when borrowing through these loan programs, and are not limited to those lenders listed here.

These recommended lenders provide opportunities to postpone repayment while the student is in school (forebearance), electronic processing/servicing, and quality customer service.  

For additional information about the Federal PLUS Loan, students can click here .