{"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":"2026-08-27T18:24:14","modified_gmt":"2026-08-27T18:24:14","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>The passage of the Working Families and Tax Cuts Act (also known as the One Big Beautiful Bill Act, or OB3) in July 2025 authorized a wide range of changes to federal loan eligibility and repayment options.<\/em><\/p>\n<p><em>We encourage all students and families who have used or intend to use federal loans for their URochester education to review our <a href=\"https:\/\/www.rochester.edu\/financial-aid\/federal-loan-changes-for-2026-2027\/\">website<\/a> for more detailed information on the overall legislative changes.<\/em><\/p>\n<p><em>In addition, students enrolled on a less than full-time basis are subject to federal loan reductions based on their enrollment status.\u00a0 These adjustments are known as the Schedule of Reductions (SOR).\u00a0 A detailed explanation as well as examples of SOR adjustments can be found on this <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.rochester.edu\/financial-aid\/loan-reduction-for-less-than-full-time-students\/\">page<\/a><\/span>.<\/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>The passage of the Working Families and Tax Cuts Act (also known as the One Big Beautiful Bill Act, or OB3) in July 2025 authorized a wide range of changes&hellip;<\/p>\n","protected":false},"author":3,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":"","_members_access_role":[],"_members_access_error":""},"class_list":["post-395","page","type-page","status-publish","hentry"],"acf":{"lead_in":"","display_title":"","subtitle":"","call_to_action":"","hero_image_placement":"no_image","hero_media":"images","hero_pattern_option":"","hero_video":"","hero_image_landing":"","hero_image_landing_two":"","hero_image_landing_three":"","content_modules":[{"acf_fc_layout":"text","anchor":"changes-2627","css_class":"","title":"<h2><strong>Changes for 2026-2027<\/strong><\/h2>\r\n&nbsp;","content":"There are several changes that will be occurring for the 2026-2027 academic year in the Federal PLUS loan program based on the recent passing of\u00a0 the One Big Beautiful Bill Act on July 4, 2025.\u00a0 We\u2019ll be sending out information over the course of the current academic year as we learn more about the changes, but here is what we do know:\r\n<ul>\r\n \t<li>Starting on July 1, 2026, all parents may borrow a maximum of $20,000 per year per dependent student<\/li>\r\n \t<li>Also starting on July 1, 2026, the Parent PLUS loan program will have an aggregate loan limit of $65,000 per dependent student (without regard to amounts forgiven, repaid, cancelled, or discharged)<\/li>\r\n<\/ul>\r\nBoth of the above changes have a legacy provision, which indicates that if a borrower has a Parent PLUS loan made before July 1, 2026, while the dependent student is continuously enrolled in a credentialed program, the parent can continue to borrow under the prior (2025-2026 academic year) loan limits for 3 academic years or the remainder of their dependent student\u2019s expected time to credential (graduate), whichever is less.","background_color":"#ffffff","width":"width-medium"}]},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Parent PLUS Loan | URochester Financial Aid &amp; 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