How do I apply as a parent for a Federal Direct PLUS Loan?
Parents wishing to borrow only a Federal Direct PLUS Loan (PLUS) do not have to complete a FAFSA, nor are they required to complete loan entrance counseling. They must complete the PLUS MPN on the federal government web site (StudentLoans.gov). The PLUS MPN needs to be completed only once during the student’s Davidson career. Additionally, they must complete a PLUS application (which includes a required credit check) on the federal web site, and indicate the loan amount and loan period for the PLUS. Q: How much PLUS can I borrow in an academic year? A: Parents can borrow up to the entire cost of attendance for an academic year, minus any financial aid the student is scheduled to receive. Q: What are the fees and interest rates on both student FDL and PLUS? A: Fees and interest rates are set annually by the federal government, and specific fee and interest rate information is provided at StudentLoans.gov. Q: Are there non-federal loan options available if needed? A: Private, alternative
