PLUS Loan Frequently Asked Questions

We've compiled a list of commonly asked questions about the PLUS Loan. If you have additional questions, please contact your financial aid counselor.

What are the steps for a parent to apply for a PLUS loan?

Parents of dependent undergraduate students may follow these steps to apply for the PLUS loan:

  1. Complete a Free Application for Federal Student Aid (FAFSA).
  2. Go to to complete the PLUS Loan process. There are two steps in the process: a credit application and a PLUS master promissory note.
  3. During the application process a credit check will be performed. You will find out immediately whether or not you are approved to borrow the PLUS loan; notification will also be sent to FPU. If you are approved, you will be allowed to complete and e-sign the PLUS MPN. If you are denied please contact your student's financial aid counselor to discuss other funding options.

Who can apply for a PLUS Loan?

Parents of dependent undergraduate students (as determined by the FAFSA) or graduate students.

I would like to make monthly payments towards my student's direct costs at FPU, what other options do I have besides the PLUS loan?

FPU provides several payment plan options for students who wish to make payments on the remaining balance of their direct costs. Once you have received your financial aid package you may set up a payment plan. Although the student needs to set up the payment arrangement, parents may make payments on the student's behalf.

How much can I borrow under the PLUS Loan?

Parents or graduate students who are approved for the PLUS Loan may borrow up to the cost of attendance minus the student's financial aid per academic year.

What do I need to do to apply and qualify for a PLUS Loan?

Follow the steps on this page to apply for the PLUS Loan. This involves completing a FAFSA, a credit check and, if you are approved, complete a PLUS Loan Master Promissory Note.

How do I receive my PLUS Loan funds?

Once students and/or parents have submitted all requested documents to FPU and you have been approved for the PLUS Loan and completed the PLUS MPN, FPU will request your loan. The entire process is electronic and is coordinated by the FPU Student Financial Services Office. The loan disbursements will be scheduled to arrive at the beginning of each semester for which you borrowed the loan. If the loan is requested after the semester begins, it will be scheduled to arrive at FPU as soon as possible.

Are there any fees associated with borrowing the PLUS Loan?

The Department of Education determines the origination fee on a yearly basis. This information is available at

What if I am denied for the PLUS Loan?

If the parent is not approved to borrow the PLUS Loan based on credit check results, the student may borrow an additional Unsubsidized Direct Loan. Freshmen and sophomores may borrow up to an additional $4,000 and juniors and seniors may borrow up to an additional $5,000 (not to exceed their cost of attendance).

What is the interest rate on the PLUS Loan?

The interest rate on a PLUS Loan while the student is in school and during repayment is available at

When do I have to start repaying the PLUS Loan?

Repayment begins after the loan is completely disbursed.

Can I estimate how much my PLUS Loan payments will be?

Once your PLUS loan is fully disbursed, you may use a loan repayment calculator to estimate what your monthly payments will be.

What if my student receives more scholarships and I end up borrowing more loan money than I need?

Each time a PLUS loan disbursement is sent to FPU, the Student Financial Services Office will verify student enrollment and eligibility and apply the loan to the student's FPU account. If you would prefer that all or part of your PLUS loan be returned please contact your student's financial aid counselor at 559-453-2041 or

Who do I contact if I have questions about applying for the PLUS Loan?

You may contact your financial aid counselor at 559-453-2041 or if you have any questions about your student loans.