About

The Federal Parent PLUS loan provides federal funds to help parents of dependent undergraduate students pay educational expenses. Parents can borrow up to the difference between Notre Dame's estimated cost of attendance and other aid or resources expected to be received. 

Example: Estimated Cost of Attendance minus Other Aid/Resources = Maximum Loan Amount

How Much Should I Borrow?

Use the financial aid calculator to determine how much you need to borrow. You may wish to include other non-billed costs, such as living expenses, in the amount you request. Also, note the loan fees below and remember to account for them in the amount you request. 

Selecting a Loan Period

Choose based on enrollment plans:

Semester(s) Attending Loan Period
Fall and Spring September – May
Summer, Fall, and Spring May – May
Fall Only September – December
Spring Only January – May

Eligibility

A parent applying for a Federal Parent PLUS loan must be the biological or adoptive parent of a dependent undergraduate student. Step-parents whose information is included on the FAFSA are also eligible to apply for the loan.

Parents must have an acceptable credit history or be able to apply with an eligible co-signer. The parent who is applying for the PLUS loan should make sure that their full legal name and correct SSN are linked to their Dept. of Ed. FSA ID and FAFSA (if their information was included).

Students must complete the Free Application for Federal Student Aid (FAFSA) and meet all other eligibility requirements.

Application Process (Must be Completed Annually)

  1. Go to studentaid.gov and log in using the parent's FSA ID.
  2. Choose option: Request a Direct PLUS Loan (this process will indicate whether you are approved or denied) and select the amount and loan period requested.
  3. If approved, you will need to choose option: Complete Master Promissory Note (only for first time PLUS borrowers at Notre Dame and borrowers who require an endorser).
  4. If informed by Department of Education to complete PLUS Counseling, choose Complete Counseling, then choose PLUS Counseling.
  5. If approved, complete the Parent Plus Request Form and submit it to our office. 

For help with studentaid.gov, call 800-557-7394.

Deadline

The priority deadline to complete the steps listed above is June 5, 2019.

What Happens Next

The student will receive an email when the Office of Financial Aid processes the loan.

Note: If the Parent PLUS loan is denied, the student will be eligible for an additional unsubsidized loan. A revision will be made to the student’s financial aid package upon confirmation of the denial.

Disbursement Process

  • When the loan is scheduled to disburse, the Department of Education will send the funds to Notre Dame electronically.
  • The funds will disburse through the student's Notre Dame account and the student will be notified by email.
  • After tuition and other charges on the account are paid, any remaining balance will be issued to the student or parent via a check (depending upon how the parent completed the application), and will be mailed to the address on record with the University.

Repayment Terms

Repayment begins within 60 days after the final disbursement of each loan. You may be able to postpone principal payments while your student is in school (up to four years). Contact the Direct Loan Servicer for repayment and forbearance options. The maximum repayment period is 10 years, and the minimum monthly payment is $50.

Learn More

For more information about PLUS loans, visit the Federal Student Aid website.