The Parent Loan for Undergraduate Students (PLUS) is a government-guaranteed loan that families can use to cover all or a portion of their student's educational expenses and is available to families of all income brackets. Students must be enrolled at least half-time (6+ credit hours) per semester to be eligible for a Federal PLUS Loan. A FAFSA (Free Application for Federal Student Aid) is required for a Parent PLUS loan.

Application Process

As a parent of a dependent, undergraduate student, you may complete the following steps to apply for a Federal Direct Parent (PLUS) Loan.

  1. Complete and sign the PLUS Loan Application.
  2. Complete and sign a PLUS Master Promissory Note (MPN)

Once the USF Financial Aid office has received your completed PLUS Loan Application, you will be notified if any further information or steps are required.

Determining Your Loan Amount

There are no set limits for Direct PLUS Loans, but you may not borrow more than the cost of your child's education minus any other financial aid received. USF will determine the actual amount you may borrow. We encourage all parent Federal Direct PLUS Loan borrowers to review costs with their student(s) and to borrow only the amount that will help ensure their success. If you have questions about determining the amount to borrow, please call us at 800-888-1047 or email


USF will apply the Direct Loan funds to a student's account one time each semester to pay for tuition, room and board.  If any loan funds remain they will be returned to the student. All loan funds must be used for educational expenses.

Interest Rate

The interest rate for Direct PLUS Loans, first disbursed on or after July 1, 2022, and prior to July 1, 2023, is fixed at 7.54 percent. Interest is charged on Direct PLUS Loans during all periods, beginning on the date of your loan's first disbursement.

Other Charges

For PLUS loans, that are first disbursed on or after October 1, 2022 and before October 1, 2023, a 4.228% origination fee is deducted from each disbursement. Please be sure to factor in the origination fee when calculating how much to borrow.