Parent PLUS Loans

 

Federal Direct PLUS are non-need based loans available from the U.S. Department of Education for the parents of enrolled, dependent students. Under this program, parents can borrow up to the total cost of education minus their student's expected financial aid. Your child must  have a Free Application for Federal Student Aid (FAFSA) completed. Parent PLUS loan applications must first be completed at  www.studentloans.gov Approved applications must be followed up with an Institutional PLUS Loan Update form.  Repayment begins 60 days after the loan is fully disbursed. Deferment options are available.

The PLUS loan application is available at Studentloans.gov, a federal website where:

* Parents of Undergraduate students complete a PLUS application
* Endorsers co-sign for PLUS
* Borrowers can appeal credit checks during the application process
* Borrowers complete the Master Promissory Note (MPN)

Once you complete the application you will be notified by the U.S. Department of Education of the credit check decision. If you are denied and do not wish to pursue a credit decision appeal or use an endorser, you will not receive the parent PLUS loan. Your dependent student will then be awarded the additional unsubsidized loan based on their grade level and remaining eligibility. If you are approved you will then need to complete an Institutional PLUS Loan Update form (below) and fax it to 615-963-7466 or mail to our mailing address on the form.

T ennessee State University will certify the actual loan amount the student is eligible for based on the amount you request on the online application and the amount of other financial aid the student has been awarded.  

Important Information for Parents

Parent PLUS loan applications must first be completed at www.studentloans.gov . Approved applications must be followed up with an Institutional PLUS Loan Update form. Parent PLUS applicants who are not the parent listed on the FAFSA must also submit a copy of the student’s birth certificate showing that they are a biological parent.

Actual tuition and fee amounts are determined in early July for the upcoming academic year. Therefore, we recommend that you request the maximum amount, up to the school’s cost of attendance. PLUS loans can be easily reduced through a written statement from the borrower if you decide later to decrease the requested amount.

NOTE: New PLUS borrowers will be required to complete a PLUS MPN with their application.






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Financial Aid