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Federal Parent PLUS Loans

Direct Federal Parents PLUS Loans are unsubsidized federal loans for the parents of dependent students.  These loans allow parents to fill the gap between the overall cost of attendance and existing student financial aid.

Eligibility

The parent borrower must be the student's biological or adoptive parent (step parent if listed on the FAFSA). The student must be a dependent undergraduate student who is enrolled at least half-time in a degree-seeking program (parents may not borrow on behalf of independent undergraduate students or graduate students). The student must have a completed FAFSA on file with Virginia Tech. The student must meet all other Title IV Federal Financial Aid program requirements. The student and parent must be U.S. citizens or eligible noncitizens and must not be in default on any federal education loans or owe an overpayment on a federal education grant.

Application Process

To complete an online Parent PLUS loan application and sign the master promissory note, the parent must create a FSA ID. The Department of Education's PLUS Application site combines the Federal Direct Parent PLUS Loan application and Master Promissory Note under one process. Please apply at least 30 days before the bill due date to ensure timely processing of the loan. Note:  If the Parent Borrower selects an unknown loan amount on the Parent PLUS Loan application, the loan will automatically be certified up to the student’s Cost of Attendance”. 

Apply for a Parent PLUS Loan

Note:  If the parent borrower elects to have excess funds refunded to them, a paper check will be mailed to the parent’s permanent address listed on the application.  Choosing to have excess funds refunded to the student allows access to the funds 5-10 days sooner with direct deposit into the bank account listed on Hokie Spa.  

Requirements

In order to obtain the loan processed, you will need to complete the Annual Student Loan Acknowledgment and complete a Master Promissory Note available online at Federal Student Aid.

Certification and Disbursement

After the PLUS Loan is approved by Direct Loans, Virginia Tech takes additional steps to certify the loan amount, and to disburse it toward the student's tuition, fees, on-campus housing and on-campus meal plan.  Excess funds will be refunded, either to the parent or student as designated.

Requesting Changes

Parent borrowers may make changes to the PLUS Loan during the school year, and after the loan has disbursed. Please email finaid@vt.edu to reduce or cancel the Parent PLUS Loan.