Federal Direct PLUS Loans

Parent Loans for Undergraduate Students (PLUS)

New Rules for 2026-27:

• New loan limits: Parent PLUS loan borrowing will be capped at $20,000 per year with a lifetime limit of $65,000 per student. If spread across four years, that averages to $16,250 per year. Families may need to plan earlier and consider how to cover any remaining costs. Learn more about upcoming changes at the CSU Federal Student Aid Updates webpage(opens in new window). 
• Legacy borrowing: Parents who borrowed Parent PLUS for a student before July 1, 2026, may continue to borrow under current limits for a limited time if the student remains enrolled in the same program.

Federal Direct PLUS loans are available to your parents if you are a dependent undergraduate student enrolled at least half-time (six units or more). Your parent may borrow an amount up to the cost of attendance minus any other aid you are receiving.

To qualify for the Direct PLUS loan, borrowers will need to pass a modest credit check and meet general eligibility requirements. Borrowers must be citizens or eligible non-citizens and cannot be in default or owe a refund to any federal student aid program.

How to Apply for a Direct PLUS Loan

The application for 2026-27 is open. Parent must apply for PLUS loan online at Federal Student Aid(opens in new window). Parents will be notified within 48 hours as to the status of the credit check. PLUS Loan processing can take up to 10 weeks. PLUS Loan borrowers are required to complete one PLUS Master Promissory Note unless the PLUS Loan is approved with an endorser, in which a new promissory note is required for each loan approved. If you are applying for a PLUS loan for multiple children attending college, a separate master promissory note is required for each child regardless of approval status. Parent borrowers may also be required to complete PLUS Loan Counseling if they were approved for the loan through documented extenuating circumstances or by obtaining an endorser.

If the PLUS loan is denied, dependent students may be eligible for additional unsubsidized loan, and can contact the Financial Aid & Scholarship Office for more information.

Interest Rates for Direct PLUS Loan

The 2026-27 interest rate for Direct PLUS Loans is 9.07% and is fixed for the life of the loan. Visit https://studentaid.gov/understand-aid/types/loans/interest-rates for the current PLUS Loan origination rate. Interest rates may change each year beginning July 1.

Receive Funds by e-Refund (Direct Deposit)

Parent PLUS Loans will first be applied towards any fee balance the student owes. If an amount remains after fees are paid, the balance can be sent to either the parent or the student. Students can enroll in e-refund through their Student Center or the parent borrower can receive the PLUS Loan balance by completing the Parent PLUS Loan Direct Deposit Form(opens in new window). 

Repayment

Repayment begins 60 days after the final disbursement of the loan. However, Direct PLUS Loans may be deferred while the student is enrolled in at least half-time, and for an additional 6 months after the student graduates or drops below half-time enrollment. Interest will accrue and may be paid monthly during periods of deferment. Unpaid interest will be added to the principal (capitalized) at the end of the deferment period. Also see Loan Term and Financial Management Information for explanation of loan terms.

Graduate PLUS Loan (Legacy Borrowers Only)

Beginning with the 2026–27 award year, Graduate PLUS Loans are no longer available to new borrowers under federal law. Learn more about loan changes at the CSU Federal Student Aid Updates webpage(opens in new window). 

If you planned to use a Graduate PLUS Loan but do not qualify under the legacy provisions, contact the Financial Aid & Scholarship Office to discuss your available borrowing options.

You may still qualify for a Graduate PLUS Loan if you meet the federal legacy (transition) provisions, generally by having received a Graduate PLUS Loan for your current graduate program before July 1, 2026. Eligibility is determined under federal regulations.

Graduate PLUS Loans require:

• Enrollment at least half-time in an eligible graduate program
• A successful federal credit check
• Completion of the required Master Promissory Note (MPN) and Entrance Counseling

Eligible legacy borrowers may borrow up to their remaining cost of attendance after other financial aid.

For current interest rates and loan fees, visit Federal Student Aid(opens in new window).

Additional Information About Financing Graduate School

Repaying a Graduate PLUS Loan