The Federal Direct PLUS Loan is an optional federal loan program for both graduate students and parents of dependent students who wish to access additional resources beyond what a student is eligible to receive.

About PLUS loans

This credit-based parent loan option may cover up to the total cost of attendance (COA) as defined by Saint Martin's University, minus student aid.

The present interest rate for the Federal Direct PLUS Loan is fixed at 7.00 percent. All Federal Direct PLUS loans are charged a 4.264 percent origination fee upon each disbursement.

In the event a parent of a dependent student is denied after completing the Parent PLUS loan application, their student will be eligible for a high Unsubsidized Stafford loan amount.


Student listening in class

Who can apply for a Federal Direct PLUS Loan?

  • A graduate student
  • A students biological, adoptive parent or the student's stepparent, if the biological or adoptive parent remarried at the time of the application
  • A borrower cannot have adverse credit history
  • Must be a US Citizen or eligible non-citizen
  • Must complete a FAFSA application each year

Applying for a Federal Direct PLUS Loan

To complete an application:

  • Review your different loan options
  • Go to
  • The parent borrower will be asked to sign in using their FSA user ID
    • If the parent does not have a FSA user ID they can create one at the FSA ID website.  
  • Click on "Start PLUS Application Process"
  • The parent borrower will authorize an immediate credit check
  • If the credit is approved and it is the first time that the parent borrower is seeking the Federal Direct PLUS, the borrower will be directed to complete the DL Parent PLUS MPN
    • It is strongly recommended that the parent complete the PLUS MPN after they receive approval notice
  • Disbursement of Direct Parent PLUS Loan

    If there is a credit balance resulting on the student's account due to a Direct Parent PLUS loan, the Department of Education requires that the parent submit a PLUS Loan Directive to indicate if the funds should be refunded to the student or the parent.

    The PLUS Loan Directive form will be mailed out to the address on file after the loan has been added to the student's financial aid package. We will be unable to disburse any refunds of the Parent PLUS Loan without a completed directive on file.