Federal Direct PLUS Loans

What your loan pays for

If you meet all requirements, you can borrow up to IUPUI’s estimated cost of attendance, minus any other financial aid received. Your loan will pay for tuition, fees, room and board, and other eligible school charges. Any funds that remain after these items are paid will be refunded.

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What happens if your application is denied?

If your application is denied due to your credit history, you’ll have some additional options at the end of the application process. You can choose to do any of the following.

  • Apply with a creditworthy endorser (someone with a good credit history who agrees to repay the loan if you can’t) to continue with the Parent PLUS Loan process and complete PLUS counseling.
  • Appeal the Department of Education’s credit decision if you feel you have extenuating circumstances or incorrect information on your credit report.
  • If you’re a parent and your Parent PLUS application is denied, your student may be eligible for an additional Federal Direct Unsubsidized Loan. (They’ll find the details when they view their financial aid in One.IU.)

Next steps

If you’re a first-time borrower, you must sign an online Master Promissory Note (MPN) agreeing to the loan terms. You’ll need your FSA ID to sign it. (If you took out a Parent PLUS Loan, your FSA ID is different than your student’s. Follow the instructions and provide the responses required.)

If you took out a Graduate PLUS Loan, you’ll also need to complete entrance counseling.

Repaying your loan

While interest charges begin to accrue as soon as you receive your loan, you don’t have to start repaying a Federal Direct PLUS Loan until up to six months after you (your student, if you took out a Parent PLUS Loan) graduate or drop below half-time status. You’ll be asked to complete exit counseling, which will provide you with information on repaying your loan. We’ll send you email with the details when it’s time for you to go through exit counseling.

Learn more about repaying your loan

Apply for a PLUS Loan

To apply, you (your student, if you’re applying for a Parent PLUS Loan) will need to complete a FAFSA and a separate PLUS loan application.

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