Federal Direct PLUS Loan Request Form & Information


The PLUS Loan Request is for parents to fill out, not students. The Federal Direct Student Loan Request is now available through myPellissippi and clicking on the "Financial Aid" tab.

NOTE: A student must be enrolled and academically participating in at least six credit hours in order to receive a Direct PLUS Loan disbursement and loan funds will arrive in two separate disbursements. Any changes in the student's enrollment or academic participation may result in the reduction or elimination of the loan.

Direct PLUS Loan Program Description

  • A Federal Direct PLUS Loan enables an eligible parent with good credit history to borrow for the educational expenses of a child who is a dependent student. The student must be in good standing with the financial aid office, and the student must be academically participating in at least six hours before the funds will disburse.
  • These loans must be repaid. Borrow wisely.


  • Eligible parents include the student's biological or adoptive parents or stepparent. We must have your child's completed FAFSA on file before we can process a PLUS Loan. The Department of Education performs a credit check and notifies our office with a loan approval or denial. To be eligible for the Federal Direct PLUS Loan, the applicant cannot have adverse credit, which can include: (1) 90 days or more delinquency on the repayment of any debt; or (2) the subject of a default determination, bankruptcy discharge, foreclosure, repossession, tax lien, wage garnishment or write-off of a Title IV debt during the last five years.

Annual Loan Limit

  • The maximum allowed PLUS loan amount is equal to the student's cost of education (budget/cost of attendance) minus other financial aid and resources.
  • Example: The budget (cost of attendance) for the student is $14,458. Other financial aid is $5,500. The difference of $8,958 is the maximum amount that can be borrowed in a PLUS loan.
  • NOTE: Dependent students whose parents are denied a Federal PLUS loan may be eligible for the independent student limits of a Direct Student Loan if there is a valid PLUS loan denial on file with our office.

Disbursement Rules

  • The Parent PLUS Loan will be disbursed in two equal installments. Single semester loans will be disbursed in two parts within the requested semester. Funds will disburse to the student's myPellissippi account. Any PLUS funds remaining after tuition, fees, etc. are paid will be given to the student or parent depending on whom you specify on your Federal Direct Parent PLUS Loan Request Form. Refunds to students will be released via electronic deposit or a mailed paper check, depending on the student's refund profile. Refunds to parents will be released via a mailed paper check.


  • Repayment of the PLUS loan begins sixty (60) days after the loan is fully disbursed. A parent may contact the Department of Education (DOE) to request that the loan repayment be deferred if the parent or student is enrolled in school as a half time student. If payment is deferred, interest will still accrue on the loan.

Interest Rate and Fees

  • Interest Rate: 7.595%
  • Fees: The Federal Direct PLUS Loans are subject to an origination fee of 4.264% (changing to 4.248% on 10/1/2018) which will be automatically deducted from each loan disbursement.