Federal PLUS loans

The two types of Federal PLUS loans

A Federal PLUS Loan is a loan from the U.S. government that helps cover college costs not already paid for by other financial aid. There are two types:

• Parent PLUS Loans – for parents of dependent undergraduate students
• Grad PLUS Loans – for graduate or professional students

Both loans:

• Allow you to borrow up to the full cost of attendance, minus other financial aid
• Require a credit check (not a full credit score review)
• Offer fixed interest rates and flexible repayment options
• Require that the student first complete the FAFSA (Free Application for Federal Student Aid)

Parent PLUS Loans

For parents of undergraduate students.

How it works

This loan is in the parent’s name, not the student’s. It can help cover tuition, housing, books, meal plans, and other education-related costs.

Eligibility

To apply, you must:

• Be the biological, adoptive, or in some cases, stepparent of a dependent undergraduate student
• Be a U.S. citizen or eligible non-citizen
• Have no adverse credit history (alternatives are available if you do)
• Ensure your student has completed the FAFSA

Note: Grandparents and legal guardians are not eligible unless they have legally adopted the student.

How to apply

1. Understand important dates and deadlines associated with financial aid
2. Complete the FAFSA at studentaid.gov
   • Your student needs to complete this step first.
3. Complete the PLUS Loan application. Have this information at the ready:
   • Requested Loan Amount 
   • School Name
   • Student Information 
   • Personal Information 
   • Employer’s Information 
   • Parent’s Verified FSA ID
4. Sign the Master Promissory Note (MPN)
   • This is a legal agreement that says you promise to repay the loan.

Grad PLUS Loans

For graduate or professional students.

How it works

This loan is in the student’s name. It helps cover the full cost of graduate or professional education, including tuition, housing, books, and other expenses.

Eligibility

To qualify, you must:

• Be enrolled at least half-time in a graduate or professional program
• Be a U.S. citizen or eligible non-citizen
• Have no adverse credit history (you may still qualify with an endorser or appeal if you do)
• Complete the FAFSA

How to apply

1. Understand important dates and deadlines associated with financial aid
2. Complete the FAFSA at studentaid.gov
   • This is the first step in applying for any federal student aid
3. Complete the online Grad PLUS Loan application. Have this information at the ready:
   • Your own FSA ID (not your undergraduate one if you’re returning to school).
   • Requested Loan Amount 
   • School Name
   • Personal Information 
   • Employer’s Information 
4. Sign your Master Promissory Note (MPN)
   • This is a legal agreement that says you promise to repay the loan.

After you’re approved

Once your loan application is approved and processed, the money goes directly to NAU through our aid disbursement process to help pay your bills or your student’s bill. If there’s any money left over, it will be refunded to the borrower unless otherwise requested.

Questions?

Need help with the application or want to explore other financial aid options?
Contact NAU’s Office of Scholarships and Financial Aid:
financial.aid@nau.edu
(928) 523-4951