Financial Aid Services
285 Old Westport Road
North Dartmouth MA 02747-2300
Federal Direct Parent PLUS Loan
The Federal Direct Parent PLUS Loan is a low-interest loan program that enables parents of dependent
Features of the Parent PLUS Loan:
The borrowing parent must pass a credit check.
Interest rate is currently fixed at 7.9%.
Origination fee is 4%.
Allows borrowing up to the cost of education minus other financial aid received.
Deferment may be requested while the student is enrolled at least half-time in an eligible program. Otherwise,
repayment begins within 60 days after the loan is fully disbursed.
If approved without an endorser, the borrower signs a Master Promissory Note (MPN) that is valid for ten
years and for all future credit-approved PLUS loans. Parents borrowing PLUS Loans for multiple children must
sign an MPN for each child for whom they are borrowing.
Parent PLUS offers a variety of repayment plan options:
Standard Repayment Plan allows repayment of your loans within 10 years with a fixed monthly payment.
Graduated Repayment Plan allows you to start with lower monthly payments at first, and then gradually
increases your payments until your loan is fully repaid in ten years.
Extended Repayment Plan allows you to repay your loan over a period not to exceed 25 years. There are
eligibility requirements for the Extended Repayment Plan.
Sample loan repayments are shown below:
Initial debt Standard Graduated Extended
when you Repayment Repayment Repayment
enter Plan Plan Plan (fixed)
Monthly Total Repaid Monthly Total Repaid Monthly Total Repaid
Payment Payment Payment
$ 5,000 $60 $7,248 $42 $7,694 Not Available Not Available
$10,000 $121 $14,496 $84 $15,388 Not Available Not Available
$15,000 $181 $21,744 $127 $23,082 Not Available Not Available
$20,000 $242 $28,992 $169 $30,776 Not Available Not Available
$25,000 $302 $36,240 $211 $38,470 Not Available Not Available
$30,000 $362 $43,488 $253 $46,165 Not Available Not Available
$40,000 $483 $57,984 $338 $61,553 $306 $91,824
$50,000 $604 $72,480 $422 $76,941 $383 $114,780
$60,000 $725 $86,976 $506 $92,329 $459 $137,736
Additional information on loan repayment, including a loan repayment calculator is available at
Page 1 of 2
PLUS Loan Application Process
Step 1: Parent logs in with their Federal PIN
Click on the link below to launch the Department of Education's Federal Direct Parent PLUS Loan
application. The parent is the borrower and must provide their information during the log in process.
In order to complete the PLUS application and sign the MPN, the parent must have a Department of
Education PIN (used when signing the FAFSA). If the borrowing parent does not have a PIN
number, one may be obtained at www.PIN.ed.gov before beginning the PLUS application.
It is very important that the PARENT, not the student, log in using their parent PIN.
Click the 'Sign In' button and enter the Parent PIN and the additional information requested.
Step 2: Click 'Start PLUS Application Process'
Step 3: Enter Parent and Student Information
Enter demographic information for the parent applicant as well as student and school information.
Step 4: Review Data Entered
Verify the information that you entered. Correct any information that was entered incorrectly.
Step 5: Credit Check
Federal Direct PLUS awards are credit-based loans. To qualify for the loan, the parent must first
pass a credit check. The parent borrower must agree to the terms provided and click submit. The
credit check will end in an approval or denial.
If Credit Check Ends in Approval:
If approved and a first time PLUS Loan borrower, continue with Step 6 below to complete a PLUS
Master Promissory Note (MPN). Parents borrowing PLUS Loans for multiple children must sign a
PLUS MPN for each child for whom they are borrowing.
If Credit Check Ends in Denial:
If denied, options will be given that include appealing the credit decision, obtaining an endorser, or
not pursuing the loan. Select the appropriate answer.
If denied and the parent will not obtain an endorser or appeal the credit decision,UMass Dartmouth
will award the student additional Federal Direct Unsubsidized Loan up to the annual established
limits: Freshmen/Sophomores up to $4,000; Juniors/Seniors up to $5,000. An Unsubsidized Direct
Loan accrues interest while the student is in school.
Important: If parent has obtained an endorser and the endorsement process is complete OR the
parent has an approved credit appeal decision, contact Linda Sumner at firstname.lastname@example.org or
508-999-8643 for further instruction.
Step 6: Begin the PLUS Master Promissory Note (MPN) Process
Click the link Complete Master Promissory Note.
Step 7: Complete the PLUS MPN
Complete additional parent information and personal references. Read and agree to the terms and
conditions of the loan.
Step 8: Review, Sign, and Print the PLUS MPN
Review the information provided, complete the signature boxes and click 'Sign'. Keep a copy of the
MPN for your records.
Step 9: UMass Dartmouth Certifies and Awards the PLUS Loan
The Department of Education will notify UMass Dartmouth regarding your PLUS Loan application. If
the student is enrolled at least half-time and meets all other eligibility criteria, UMass Dartmouth will
certify the loan for the amount requested up to the cost of attendance minus other financial aid
received. The PLUS Loan will be added to the student's financial aid award and will be visible in the
UMass Dartmouth COIN system within 5-7 business days at www.umassd.edu/coin/
Page 2 of 2