Parent PLUS Loan

After taking into account the Monthly Payment Plan and Direct Student Loan, students and parents may find the need for additional financing to meet their expected cost. A possible source you could utilize to obtain this additional funding is the Federal Direct Parent PLUS Loan.

Eligibility Requirements:

        - The borrower must be the parent (biological, adoptive, or in some cases, stepparent) of a dependent undergraduate student enrolled at least half-time at an eligible school;

        - Not have an adverse credit history; and

        - Meet the general eligibility requirements for federal student aid

Application Instructions:

    1. Go to to apply for a Direct Parent PLUS loan.

    2. The parent must sign in using their FSA ID and password.

        Forget your FSA ID? Retrieve your username / password at

    3. Click on “Apply for a Direct PLUS Loan” on the left side of the page.

        Be sure to select the PLUS loan option for Parents and not for Graduate Students.

    4. Complete the Parent PLUS application. There are three options to choose an amount:

          - Maximum eligibility: Based on the Cost of Attendance minus all other financial aid received

          - Specific amount

          - Leave blank: Notify Elizabethtown College Financial Aid office at a later time of amount required

    5. The PLUS loan borrower will receive an immediate credit decision after the application.

         If approved, all first-time PLUS loan borrowers must sign a Master Promissory Note (MPN) on

         If denied, the Parent PLUS loan applicant can choose one of the options below:

        -  Add an Endorser to the application

        -  Appeal the denied credit decision with the Department of Education

        -  Allow the student to borrow an additional Direct Unsubsidized Loan   

                         1st and 2nd Year: $4,000

                         3rd and 4th Year: $5,000

*All Parent PLUS loan applicants who have obtained an Endorser or documented extenuating circumstances in an appeal to the Department of Education must complete PLUS Credit Counseling.

**All Endorsers must complete the Endorser Addendum found online at The Endorser will log in to this website using his/her FSA ID. The Parent PLUS Loan borrower or Elizabethtown College can provide the PLUS Endorser Code to the Endorser.

***Appeals can be initiated online at Log in using your FSA ID and select “Document Extenuating Circumstances.”

****Borrowers with endorsers or borrowers who were approved based on an appeal must complete a new MPN each year.

Suggestions and Reminders:

- We advise you to apply for the amount needed for the full academic year (fall and spring semesters) in order to avoid having to complete another PLUS Loan Request that will trigger a second credit check for the spring semester.

- The credit check decision will be good for 180 days.

- All Parent PLUS loans have an origination fee. Please remember to calculate the origination fee when applying for a specific amount.

For Example: If the loan required is $10,000, divide the required loan amount by the difference of 100 minus the origination fee (4.248) and the amount is the total loan amount you will need to borrow:

             /   0.95752
             $10,443.65 = Amount of Parent PLUS loan needed to borrow

- For more information on Parent PLUS loans visit

If you have additional questions, please do not hesitate to contact our office at 717-361-1404 or