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Important Updates

Parent PLUS Loans

Parent PLUS Loans

  • Students must be enrolled at least half-time (6 units)
  • Parent(s) may borrow up to the cost of attendance minus financial aid and outside resources
  • Interest rate and loan fees for the year are determined annually on July 1
  • Begins accruing interest at the time of disbursement (unless borrower requests a deferment)
  • Processing fee deducted from each disbursement
  • First payment is due within 60 days of final annual disbursement
  • Must complete the Free Application for Federal Student Aid (FAFSA)
  • Credit check required
  • 2022-23 loan offers can be accepted or declined in MyAwards beginning August 1, 2022. Requirements can be completed after the loan has been accepted.
  • 2022-23 Parent PLUS Loan requirements will begin satisfying starting August 4, if completed. Keep confirmation(s) for your records.   

Am I Eligible to Apply for the Parent PLUS Loan?

Biological and adoptive parents of undergraduate students are eligible to apply. Step-parents are also eligible to apply if their information is included in the student's Free Application For Federal Student Aid (FAFSA). More than one parent can apply on behalf of each student, which can help unmarried parents share costs. Students cannot apply for or accept a Parent PLUS loan on their parent(s)' behalf.

For more details on eligibility, see Federal Student Aid Parent PLUS Loan.

Please note:

  • If a biological parent is not listed on a student's FAFSA the student's birth certificate will be required to confirm eligibility.
  • If a parent is not a U.S. citizen or eligible non-citizen, has a defaulted federal education loan, or has filed bankruptcy that prevents incurring new debt, they won't be able to complete the online application. If this happens, the student, if eligible, may be considered for additional Federal Direct Unsubsidized Loan funds. Please complete the Ineligible PLUS Borrower Form to let us know if you are ineligible for a PLUS Loan. The form should be submitted for each parent listed on the FAFSA.

Parent PLUS Loan Application Process

Please note: the Parent must complete the application as the Borrower. Credit decisions are good for 180 days. If credit approval has expired, a new PLUS Loan application will be required.

  1. Log in to the Federal Student Aid portal using your own FSA ID.
    • The Federal PIN is no longer used. Students, parents, and borrowers are now required to use an FSA ID, made up of a username and password, to access certain U.S. Department of Education websites.
    • Your FSA ID is used to confirm your identity when accessing your financial and loan information and electronically signing your federal student aid documents.
    • If you have not yet set up your FSA ID and/or need to replace an existing Federal PIN, please visit the FSA ID website before visiting the Federal Student Aid website.
  2. Click on the link that reads “Request a Direct PLUS Loan.”
  3. Read the small print and then click on the “Parent PLUS” link at the bottom of the page.
  4. Be sure to choose the correct period for the loans when you complete the PLUS application.
    • Full Academic Year: September 2022 to June 2023
    • Summer Sessions: June 2023 to September 2023
  5. In the Student Information section:
    • Choose your principal repayment deferment option. It will cost you less overall if you choose not to defer principal repayments.
    • Choose the Other Charges option: If you authorize, PLUS funds will be used to pay any existing charges on your student’s account.
    • Choose a Credit Balance option. Most parents choose “The Student” because this is the most efficient way to get funds to where they are needed. If you choose “Me,” any refund will be issued via paper check and mailed to you (the parent) at the address on your PLUS application.
  6. In the School and Loan Information section:
    • Enter a specific amount in the Loan Amount Requested section.
      • If you choose to borrow the maximum, the full offered amount in MyAwards will be accepted at the time the application is processed.
      • If you do not wish to borrow the maximum, indicate the amount you would like to borrow on the application.
      • If you do not indicate the maximum or enter an amount, your application will be delayed.
    • For Loan Period, be sure to choose the correct period for the loans when you complete the PLUS application.
      • Full Academic Year: September 2022 to June 2023
      • Summer Sessions: June 2023 to September 2023
  7. Continue through the application. You will see your approval status immediately.
  8. If you are approved, click on the “Complete an MPN” link and follow the directions. Take some time to read all the small print as it contains important information about interest, fees, your repayment obligation, and your borrower rights.
  9. If you are not approved, you will be presented with some options. You can:
    • Appeal the decision. Decisions may be appealed by calling Applicant Services at (800) 557-7394.
    • Secure an endorser. If you have decided to pursue an endorser, the endorser will complete the “Endorse Direct PLUS Loan” section at studentaid.gov. The endorser will need their own federal PIN to sign the endorser addendum.
    • Undecided. No action will be taken by the school. Note: If you change your mind about how to proceed after you have submitted your response, please let us know through Contact An Expert. The case you submit should include your name and contact information, as well as your student’s name and the student ID number.
       

What if I am unable to request an endorser or appeal my Parent PLUS credit decision? 

Parents can complete the Federal Direct Parent PLUS Loan Revision Form to decline the loan. The student will qualify for additional unsubsidized loan if the parent is ineligible for a Federal Direct Parent PLUS loan. The student will need to submit a change in aid or unsubsidized loan form to request the increase. Students can review the loan limits at studentaid.gov. Review the Independent and dependent undergraduate students whose parents are unable to obtain PLUS loans chart.

Parent Direct PLUS Authorization

Parents can update their authorization for UC Davis to use Parent Direct PLUS Loan disbursements to pay for other educationally related charges incurred at school. Changes to your authorization will become effective in the next consecutive quarter. Parents may request a change by submitting a Parent Direct PLUS Authorization Form.

 

Parent PLUS Loan FAQs

  • My parent applied for the Parent PLUS Loan and it has been more than 5-7 business days, why are the requirements not displayed as Satisfied and the loan not yet issued to MyBill?
  • In order to process a Parent PLUS Loan application, please ensure the following steps have been taken:

    1. Parent applied for the PLUS Application through studentaid.gov
    2. Parent received a credit decision at the end of the application:
              a. Received a confirmation email that the parent was approved. Continue to step 3.
              b. Received a confirmation email that the parent was not approved. See Application Process Step 9.
    3. After approval, the parent completed the Parent PLUS Master Promissory Note (MPN) with the following selections completed:
              a. MPN for Parent of a dependent was selected.
              b. Parent’s information was used to submit the Parent PLUS MPN.
    4. If your parent was approved and the PLUS MPN was completed, please submit the following documents via Contact An Expert:
              a. An email from studentaid.gov that confirms the parent was approved for the Parent PLUS Loan.
              b. A copy of the completed Parent PLUS MPN.

    If additional information is required after these documents have been submitted, we will reach out to you via email.