Federal Direct Parent Loans for Undergraduates (PLUS)

Parents of dependent undergraduate students may borrow directly from the U.S. Department of Education to pay college costs that aren't covered by financial aid.  The maximum loan amount is the student’s cost of attendance (determined by Nazareth) minus any other financial aid received.

Interest Rate and Fees

A Federal Parent PLUS loan is a loan funded by the federal government and borrowed by an eligible parent to help pay for their students education. A federal parent PLUS loan is borrowed money parents must repay with interest. Interest is a loan expense charged for the use of borrowed money. Additionally, there is a loan fee on all Direct PLUS Loans. The loan fee is a percentage of the loan amount and is proportionately deducted from each loan disbursement. The percentage varies depending on when the loan is first disbursed. It is important parents understand how interest is calculated and the fees associated with the loan. Both of these factors will impact the amount which they will be required to repay. Specific federal parent PLUS loan interest rates and fees may be viewed at the link above.


For PLUS loans disbursed before July 1, 2008: Repayment of principal plus interest typically begins 60 days after the final disbursement is made.

For PLUS loans disbursed on or after July 1, 2008: Parents may choose to defer payments until six months after the the student ceases to be enrolled at least half time.  Parents must request the deferment.  Accruing interest can either be paid by the parent monthly or quarterly, or be capitalized quarterly.

More details.


NOTE: Federal PLUS Loan applications may not be submitted until AFTER the following dates:

  • April 15 - for students taking summer classes
  • May 1 - for students taking classes in the fall

Parents: To apply for the PLUS Direct Loan for Parents, you must:

Request the total amount of funds for the full academic year. Once your application has been approved with a credit check, Nazareth University will certify your eligibility and schedule the disbursement of funds directly into the student account at the beginning of each semester.