{"id":395,"date":"2018-04-24T19:59:43","date_gmt":"2018-04-24T19:59:43","guid":{"rendered":"https:\/\/www.rochester.edu\/financial-aid\/?page_id=395"},"modified":"2026-06-08T15:58:05","modified_gmt":"2026-06-08T15:58:05","slug":"parent-plus-loan","status":"publish","type":"page","link":"https:\/\/www.rochester.edu\/financial-aid\/parent-plus-loan\/","title":{"rendered":"Parent Plus Loan"},"content":{"rendered":"<p><em>Please note that the reconciliation bill passed on July 4, 2025 has provisions which will change how the Parent PLUS Loan can be used.\u00a0 Please review the section below titled &#8220;Changes for 2026-2027&#8221; to learn more.<\/em><\/p>\n<h2>Who can borrow<\/h2>\n<p><span style=\"font-size: 1.25rem; font-weight: 400;\">Parents can borrow a Federal Parent PLUS Loan to help pay for a student\u2019s educational expenses as long as the student is:<\/span><\/p>\n<ul>\n<li>Considered a dependent student<\/li>\n<li>Enrolled at least half time (at least six credit hours per term)<\/li>\n<li>Matriculated in a degree-seeking program<\/li>\n<\/ul>\n<h2>How it works<\/h2>\n<ul>\n<li>Credit approval is required to receive the loan.<\/li>\n<li>Parents can borrow up to $20,000 per academic year year, per student. Parent who qualify for the legacy provisions (see below) can borrow the cost of attendance minus any financial aid the student is receiving<\/li>\n<li>The interest rate for the 2026-2027 academic year is 9.07% as of July 1, 2026<\/li>\n<li>The interest rate for the 2025-2026 academic year is 8.94% as of July 1, 2025<\/li>\n<li>There is an origination fee of 4.228%.<\/li>\n<\/ul>\n<h2>When to apply<\/h2>\n<p>Parents should not apply any earlier than 90 days before the start of the semester for which the loan is needed. Credit approvals are only viable for that amount of time. If the loan is applied for too early, the credit approval will become invalid and parents must submit a new PLUS online application for processing.<\/p>\n<h2>How to apply<\/h2>\n<ul>\n<li>Submit the Parent PLUS <a href=\"https:\/\/studentaid.gov\/plus-app\/parent\/landing\">application<\/a>.<\/li>\n<li>Click the blue \u2018Log In\u2019 button to complete the PLUS Request Process.<\/li>\n<li>Parents must submit the application with their Federal Student Aid (FSA) ID.<\/li>\n<\/ul>\n<h2>What\u2019s next<\/h2>\n<p>Once the application is submitted online, we will be notified electronically regarding the amount requested and whether the loan was approved or denied. The loan amount requested is assumed to be for the entire academic year. If your needs change after the PLUS loan application is submitted, please contact your financial aid counselor and detail any required updates.<\/p>\n<h2>Parent PLUS denial<\/h2>\n<p>In the event that a Parent PLUS loan is denied, the student may borrow an additional federal unsubsidized loan, up to $4,000 for first years and sophomores and $5,000 for juniors and seniors. The actual amount that can be borrowed is determined by a financial aid counselor based on the difference between the estimated cost of attendance and the total financial aid awarded. Students need to request these funds in writing after the parent receives notification of the denial. PLUS loan denials do not carry over to the following year; the PLUS loan must be applied for each year.<\/p>\n<p><a class=\"button button--blue ghost-button--blue\" href=\"https:\/\/studentaid.gov\/understand-aid\/types\/loans\/plus\/parent\">Additional PLUS Loan Information<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Please note that the reconciliation bill passed on July 4, 2025 has provisions which will change how the Parent PLUS Loan can be used.\u00a0 Please review the section below titled&hellip;<\/p>\n","protected":false},"author":3,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-395","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Parent PLUS Loan | URochester Financial Aid &amp; Scholarships<\/title>\n<meta name=\"description\" content=\"Learn about the Parent PLUS Loan, who can borrow, how it works, when and how to apply, and next steps after applying.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rochester.edu\/financial-aid\/parent-plus-loan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Parent PLUS Loan | URochester Financial Aid &amp; 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