Federal Direct Parent PLUS Loan (domestic parents only)

Federal Direct Parent PLUS Loan

The Federal Direct PLUS Loan provides a borrowing option for parents of dependent undergraduate students. Based upon a parent's credit history, a parent may borrow through this federally guaranteed, non-need-based loan program.

Eligibility Requirements

To qualify for a Parent PLUS Loan, the following criteria must be met:

  • General Federal Aid Criteria: Both the student and the parent must meet general federal student aid eligibility requirements. This includes being a U.S. citizen or eligible noncitizen and ensuring the student is enrolled at least half-time in a degree-seeking program.

  • FAFSA: The student must have a valid Free Application for Federal Student Aid (FAFSA) on file for the current academic year.

  • Credit History: The borrowing parent must not have an adverse credit history. The U.S. Department of Education will perform a credit check to determine eligibility. If you have concerns about what qualifies as "adverse," you can find detailed information on credit requirements at StudentAid.gov.

Annual Borrowing Limits

The maximum amount you may borrow is determined by your student’s history with the University of Notre Dame:

  • For Parents of Current Students: If your student has previously borrowed a Federal Direct Loan prior to July 1,2026 for their current academic program at Notre Dame, you may borrow up to the full cost of attendance, minus all other financial aid.

  • New Parent Borrowers: If your student is new to the University or if the student or parent has never borrowed a Federal Direct Loan for the student's program at Notre Dame, then beginning July 1, 2026, the Parent PLUS Loan is limited to $20,000 per academic year, with a aggregate maximum of $65,000.

Terms and Repayment

We encourage students to exhaust their Federal Direct Student Loan eligibility prior to families borrowing from the Federal PLUS Loan program due to the student loan's more favorable terms, but ultimately, it is each family's choice. 

  • Interest Rate: 9.07% fixed during repayment (for loans first disbursed July 1, 2026 – June 30, 2027).

  • Origination Fee: 4.228% (for loans with a first disbursement date on or after October 1, 2020).

  • Repayment: Usually begins within 60 days of the final disbursement. However, parents may choose to defer payment until six months after the student ceases to be enrolled at least half-time.

How to Apply

Borrowers who wish to use the Federal Direct Parent PLUS Loan Program should complete the steps below as soon as possible to ensure Notre Dame can begin processing your loan. 

STEP 1. Apply for a Federal Direct Parent PLUS Loan

Visit studentaid.gov.

“Log in” using parent's FSA ID (Federal Student Aid username and password).

Select "Apply for a Parent PLUS Loan."

Complete the loan application through the Department of Education. Applications will automatically be sent to the school within a few business days. 

STEP 2. Complete Master Promissory Note

Complete/Submit "Master Promissory Note."

Select "MPN for Parents."

The Master Promissory Note (MPN) is a legal document in which you promise to repay your loan and any accrued interest and fees to the U.S. Department of Education. The MPN also offers details on the terms and conditions of the loan.

Completion of the MPN takes up to 30 minutes and requires the following:

  • The names, addresses, and phone numbers of two references
  • Your driver’s license number (if applicable)