Federal Direct Parent Plus Loans

  • ​​​​​​​​​​​​​​​​​​​The PLUS loan is a federal loan taken out by the parent of an undergraduate student to finance part or all of the tuition bill.
  • The maximum amount a parent can borrow is up to the cost of education minus all other financial aid that was awarded to the student.
  • The US Department of Education Direct Loans is the lender.
  • Repayment is handled by a loan servicer assigned by the US Department of Education once the loan has been disbursed to your student’s account.  You can access your loan servicer information at www.nslds.ed.gov .
  • The parent must pass a credit check processed by the US Department of Education Direct Loans in order to qualify for this loan.
  • Repayment begins sixty days after the Spring semester disbursement. Repayment can be deferred as long as the student is enrolled at least half time. However, interest will accrue during this deferment. Please contact the lender to request paperwork for the deferment.

Federal Direct Parent PLUS Loan Online Application Instructions

The PLUS loan process requires the parent borrower to complete the loan application, authorize a credit check and complete a Master Promissory Note (MPN) ​all online through the US Department of Education Direct Loans website. The information entered by the parent borrower as well as the loan approval or denial is electronically submitted to Providence College. The College will automatically be notified within 3 business days of the online submission of the parent’s completed application. Please follow the steps below to apply for the PLUS loan.

Please visit the Direct Loans website https://studentloans.gov

  • Once on this site, click on the green ‘Log In’ bar in the white box in the upper right corner
  • Enter in the required information using the information for the parent who is applying for the PLUS loan
  • The parent borrower will need to log in using their FSA ID.
    • If the borrowing parent does not have a FSA ID, click on the link in the log in box to create an FSA ID or visit https://fsaid.ed.gov/npas/index.htm to request a new FSA ID. Once on this site, enter in the required information. If you have a FAFSA pin, you will be able to enter it to link it to your FSA ID. Once the Social Security Administration verifies your information in one to three business days, or if you have linked your FAFSA pin to your FSA ID, you will be able to log into https://studentloans.gov   to complete the PLUS loan application.
    • If the borrowing parent has already been issued a FSA ID, but does not remember either their FSA ID or password, visit https://fsaid.ed.gov/npas/index.htm and select the tab ‘Edit my FSA ID.
  • Once the Parent is logged in, a new web page will open. Click on ‘Request PLUS Loan’ from the left hand column.
  • Follow the steps to complete the application and credit check. Please be sure to select ‘Providence College’ in the School Name section. Once Providence College receives​​ notification of an approved PLUS loan, we will process the loan within 5-7 days. Processed PLUS loans can be viewed in the Financial Aid Award section of the student’s Cyber Friar account.
  • The results from the credit check will be available immediately.
    • If the credit is approved, you will be given instructions for completing a PLUS loan Master Promissory Note (MPN).
    • If the credit is denied, you will be given the options to not pursue the loan, obtain a credit endorser or appeal the credit decision. If you do not wish to pursue an endorser and the student is interested in the additional Unsubsidized Direct Loan, please have the student fill out the PLUS Denial Request Form and return to the Office of Financial Aid.

If you need any assistance with the https://studentloans.gov  ​​ website, please call 1-800-557-7394.​​