This loan allows parents of dependent students to borrow to pay for educational expenses. Financial need is not considered; therefore, the program is open to almost any family (student and parent) who does not have an adverse credit history. The family can borrow up to the cost of education, less other aid received. Parents requesting the Parent PLUS loan are not eligible unless the student meets satisfactory academic progress (SAP), according to federal and state regulations. View current student loan interest rates. Repayment begins 60 days after disbursement. 

How to apply for Parent PLUS loan:

  1. Complete the Sandburg Parent PLUS loan request form.
  2. Complete loan agreement for the PLUS loan (MPN).  

PLUS loan eligibility 

  • One or both parents may take out a parent loan.
  • Students must be making satisfactory academic progress (SAP). SAP status of Satisfactory, Warning,or Academic Improvement Plan can be processed.
  • The Department of Education will process a check that evaluates for adverse credit history (unless they meet certain additional requirements). 
  • Student must be enrolled.

Processing Parent PLUS loans

The Financial Aid Office will:

  • Submit the credit check request to the Department of Education.
  • Calculate the amount the parent can borrow.
  • Notify the parent in writing of the results of the PLUS application and next steps.


Parent loans will be used to pay any remaining tuition charges. Students can charge books to the parent loan remaining after tuition is paid. The balance of the loan is mailed to the parent beginning the third week of the semester.

PLUS repayment


How does the parent pay back the loan?

The parent will repay the servicer listed on the disclosure statement provided when he or she receives the loan. The loan servicer will provide regular updates on the status of the PLUS Loan and any additional PLUS loans that a parent receives.

Repayment plans

The Direct PLUS Loan Program for parents offers three repayment plans: Standard, extended and graduated. They're designed to meet the different needs of individual borrowers. The terms differ between the repayment programs, but generally, borrowers will have 10 to 25 years to repay a loan.

What if a parent has trouble repaying the loan?

Under certain circumstances, a borrower can receive a deferment or forbearance to temporarily stop or lower the payments on a loan.

Can the parent's PLUS loan be transferred to the student so it becomes the student's responsibility to repay?

No. A PLUS loan made to the parent cannot be transferred to the student. The parent is responsible for repaying the PLUS loan.

Can a PLUS loan be canceled (discharged)?

Yes, under certain conditions. A cancellation (discharge) releases the parent from all obligations to repay the loan.



Financial Aid Office
Galesburg campus, E101