Federal PLUS loans

PLUS loans are federal loans designed to help cover college expenses when scholarships, grants, and other aid don’t cover the total bill. These credit-based loans are available to graduate students and to parents of dependent undergraduate students. They come with flexible repayment options and can cover the full cost of attendance.

Two types of Federal PLUS loans

PLUS loans help pay for education expenses not covered by other aid. There are two types, specific to who’s borrowing.

Parent PLUS loans are for parents of dependent undergraduate students.

Grad PLUS loans are for graduate or professional students.

What they have in common

Both Parent PLUS and Grad PLUS loans have commonalities including:

  • coverage of up to the full cost of attendance (minus any other aid received)
  • credit check requirement (but not a full credit score review)
  • fixed interest rates and repayment plans
  • completed FAFSA requirement (before applying for either type of loan)

Parent PLUS loans

For parents helping to fund their undergraduate student’s education.

How they work

Parent PLUS loans are in the parent’s name and can be used for anything related to your student’s college expenses: tuition, fees, housing, books, and more.

Who's eligible

To apply, you must:

  • be the student’s biological, adoptive, or qualifying stepparent
  • be a US citizen or eligible non-citizen
  • have no adverse credit history (or apply with an endorser)
  • have your student complete the FAFSA

Note: Grandparents and legal guardians do not qualify unless they've legally adopted the student.

How to apply:

  1. Understand important dates and deadlines associated with financial aid.
  2. Complete the FAFSA at studentaid.gov.
    • (Your student needs to complete this step first before you take the next step.)
  3. Complete the PLUS loan application. You'll want to have the following information at the ready:
    • requested loan amount 
    • school name
    • student information 
    • personal information 
    • employer's information 
    • parent's verified FSA ID
  4. Sign the Master Promissory Note (MPN).
    • (This is a legal agreement that says you promise to repay the loan.)

Grad PLUS loans

For grad students who need additional help covering costs beyond other aid.

How they work

Grad PLUS loans are taken out by the student and can be used to cover tuition, books, living expenses, and other related costs.

Who's eligible

To qualify, you must:

  • be enrolled at least part-time in a graduate or professional program
  • be a US citizen or eligible non-citizen
  • pass a credit check (or apply with an endorser)
  • complete the FAFSA

How to apply:

  1. Understand important dates and deadlines associated with financial aid.
  2. Complete the FAFSA at studentaid.gov.
    • (You must complete this step before submitting your loan application.)
  3. Complete the online Grad PLUS loan application. You'll want to have the following information at the ready:
    • your FSA ID (not your undergraduate one if you're returning to NAU).
    • requested loan amount 
    • school name
    • personal information 
    • employer's information 
  4. Sign your Master Promissory Note (MPN).
    • (This is a legal agreement that says you promise to repay the loan.)

After you're approved

Once approved, your loan is sent to NAU to help cover tuition and fees. If there’s any leftover amount, it will be refunded to you or your student, depending on the loan type.

Questions? We're here to help!

Have questions or need help navigating your PLUS loan options? Contact NAU’s Office of Scholarships and Financial Aid by emailing financial.aid@nau.edu or calling 928-523-4951.