Parent PLUS Loan
The Federal Direct Parent PLUS Loan is a federal loan program offered by U.S. Department of Education available to parent(s) / step-parent of a dependent student to assist them in meeting their educational costs. To be eligible to apply, the parent borrower must not be in default on any federal education loans and be a U.S. citizen or eligible non-citizen. The Federal Direct Parent PLUS Loan requires a separate application, in addition to credit approval by the Department of Education.
Parent PLUS Loan Application Process
- Complete the Federal Direct Parent PLUS Application and return to Great Falls College MSU.
- Credit approval will be made by the Department of Education.
- If approved, Sign a Direct Parent PLUS Loan Master Promissory Note (MPN). If you need assistance completing the MPN, call the Direct Loan Origination Center at 1-800-557-7394.
- If the Direct Parent PLUS Loan credit decision is denied, the school is notified by the Department of Education.
- Direct Loans will automatically send the parent borrower an appeal packet outlining the steps to take to appeal the credit decision or to obtain an endorser for the Federal Direct Parent PLUS Loan.
- If the credit decision is overridden, the Department of Education will automatically notify the school of the approval status. (refer to Step 3 above)
- If the Direct Parent PLUS credit decision or appeal is denied, the student is eligible to receive additional Unsubsidized Stafford loans.
- This option is not available to the student if one parent is denied and another parent is approved credit for a Direct Parent PLUS or if the parent pursues a credit override by submitting an appeal or gaining an endorser and is granted approval.