Parent Plus Loans
Government-insured, credit-based loan program for parents of dependent undergraduate student.
Approval for the PLUS loan is based on the credit-worthiness of the borrower. In the event of a credit-denial, Federal Student Aid's PLUS Loan Information page details the options available for obtaining a PLUS Loan.
Interest is charged during all periods. Generally, PLUS Loan enters repayment 60 days after the loan has been fully disbursed. Various options are available to postpone payment; refer to Federal Student Aid's Direct PLUS Loan Information page for additional details.
Note: The student must be enrolled at least half time and be eligible for federal student aid.
- The student must complete and submit a FAFSA application.
- Student must submit all required documents on the form to the Office of Financial Aid.
- You must be enrolled or accepted for enrollment in a degree, certificate or professional program.
- Your enrollment status must be at least half-time, (the equivalent of 6 units).
- Must be a citizen or eligible non-citizen (permanent resident) of the United States.
- Must be a parent of a dependent undergraduate student.
Parent Plus General Info
- Is available to parents of dependent undergraduate students.
- In addition to the parent borrower passing a basic credit check, the student must meet the general eligibility requirements for federal student aid.
- Any amount in excess of university charges through the Parent PLUS Loan will be issued as a refund to the parent.
- Dependent undergraduate students: if your parent is unable to secure a PLUS loan, you may be eligible for additional Unsubsidized loans to help pay for your education.
- Disbursement requires the student be enrolled in half-time, (the equivalent of 6 units)
Interest Rates and Loan Fees
Interest rates are adjusted by Congress annually, with a new rate taking effect each July 1st. Although the interest rate for new loans may change each July 1, the rate received will be fixed for the life of the loan.
In addition to the interest rate, Plus Loans charges an origination fee, which is deducted from your loan funds at the time of disbursement.
Please check the student aid website for interest rates and loan fees for current and past years.
How Much Can I Borrow
The maximum PLUS loan amount you can borrow is up to the cost of attendance minus any other financial aid awarded to the student.
How to Apply | Part 1 - Student
- Apply for FAFSA
- Submit all required documentation to the Office of Financial Aid
- Review your Financial Aid summary in your Titan Online Student Center.
- If your total aid is less than the estimated financial aid and budget, you may apply for the difference in a Plus Loan.
How to Apply | Part 2 - Parent
- Log onto Studentloans.gov | The parent must log in using their FSA ID and Password Credential
- Complete the Parent Plus Loan application, which includes a credit check
- Complete the Master Promissory Note (MPN) online. | Using Your (the Parent) Credential to Sign
- Complete Plus Loan Counseling
- Must be completed by parent with an adverse credit decision who will appeal the credit decision or pursue an endorser for credit approval of the Parent Plus Loan
- Complete CSUF Plus Application with all attachment and submit it to the Office of Financial Aid
Parent Plus Loan is Denied
You may still receive a Plus Loan via one of these two options:
- Obtaining an endorser who does not have an adverse credit history. If you are a parent borrower, the endorser cannot be the student the parent borrower is borrowing for. Your parent can reapply with a co-signer (endorser).
- Provide document to the U.S. Department of Education's satisfaction extenuating circumstance relation to your adverse credit history.
Once you have completed either option above, you also must complete the credit counseling for the Plus Loan borrowers at the Studentloans.gov website.
If a parent borrower is unable to secure a Plus loan, the undergraduate dependent student may be eligible for additional Unsubsidized loans to help pay for their education. The dependent student would need to provide the CSUF Plus Application and the denial letter from the Department of Education. The additional Unsubsidized loan would be offered on the Student Center after processing.
How is the Plus Loan Funds Disbursed?
PLUS loan funds are sent via to the University for application to the student's campus account. Accepted loan funds are divided so half the funding is provided for the Fall semester and the other half is provided for the Spring semester.
Once the funding has been sent to the University, the Office of Financial Aid will again verify the student's eligibility for payment. Then the funds are applied to the student's remaining campus balances, this would include Campus Tuition and Fees, as well as CSUF On-Campus Housing Charges.
Once the student's account has been paid in full, Student Business Services (SBS) will mail a check for the remainder of the funds to the parent borrower. If the student owes money to the University there will be a temporary hold placed on the disbursement until the balance on the student's account is paid in full.
When you receive your Direct PLUS Loan, you will be contacted by your loan provider. Your loan servicer will provide regular updates on the status of your Direct PLUS Loan and will provide you with information on how and when to repay your loan. You’ll make payments to your loan servicer using one of several repayment plans available to PLUS loan borrowers.
You can learn more about repayment options here.