Direct PLUS (Parent Loan for Undergraduate Students)
These are loans parents may obtain to help pay the cost of education for their dependent undergraduate. The maximum that can be borrowed is equal to the cost of attendance minus any other financial aid received. Interest accrues while the student is in school. There is an origination fee that will be deducted proportionately from each loan disbursement. There is no grace period.
For more information on PLUS Loans, see https://studentaid.ed.gov/sa/types/loans/plus.
Application process: Students who wish to apply for a Direct Loan must first submit their FAFSA for the relevant year. New Direct Loan applicants must complete entrance counseling and sign a Subsidized/Unsubsidized Loan Master Promissory Note (MPN) at http://www.studentloans.gov before completing the Direct Loan Processing Form from your Student Center on CUNYfirst. Students who have previously completed Direct Loan entrance counseling and have an active Subsidized/Unsubsidized Loan MPN need only complete the Direct Loan Processing Form on CUNYfirst. Parents of undergraduate students may complete the Parent PLUS loan application at www.studentloans.gov. New PLUS loan applicants will also need to sign a Master Promissory Note at www.studentloans.gov for each dependent for whom you are applying.