But first, learn a little more about the PLUS loans available to you.

Federal Direct Parent PLUS Loan

• Federally funded loan program available to parents/step-parents of undergraduate dependent students
• Eligibility does not require demonstrated financial need
• A Free Application for Federal Student Aid (FAFSA) form is required
• Student must be enrolled at least half time (6 credits) in a degree or eligible certificate program
• May borrow up to the cost of attendance minus financial aid per academic year
• Interest rate is fixed at 7.54% beginning July 1, 2022, and repayment begins 45-60 days after the second disbursement. Deferred payment options are available
• Origination fees for loans disbursing on or after October 1, 2020 is 4.228% (subject to change)
• Parent/stepparent must complete an Online Master Promissory Note

Federal Direct GRAD PLUS Loan

• Federally funded loan program available to graduate students
• Eligibility does not require demonstrated financial need
• A FAFSA form is required
• Student must be enrolled at least half time (6 credits) in a degree or eligible certificate program
• May borrow up to the cost of attendance minus financial aid per academic year
• Interest rate is fixed at 7.54% beginning July 1, 2022, and repayment begins 45-60 days after the second disbursement. Deferred payment options are available
• Origination fees for loans disbursing on or after October 1, 2020 is 4.228% (subject to change)
• Graduate student must complete an Online Master Promissory Note

Steps to apply for a Federal PLUS Loan online

IMPORTANT: All wishing to borrow a Federal Direct PLUS Loan MUST have completed a FAFSA

1. Go to Federal Student Aid - Student Loans website and “Log In” with the same FSA ID used to complete the FAFSA
2. Follow the instructions to "Apply for a PLUS Loan" (parents complete the PLUS request for parents, Graduate students complete PLUS request for graduate/professional students)
3. Complete all requested data (academic year, school, amount borrowing, etc.) and authorize the Department of Education to check your credit
4. If credit is approved, first time Federal Direct PLUS Loan borrowers must complete the Master Promissory Note (MPN). This is completed on the same Federal Student Aid - Student Loans website
5. Once these steps are complete, the Department of Education will send notification to UMass Lowell within 2-3 business days for further review
6. Once finalized, the loan will show as anticipated aid on your student’s bill. The Master Promissory Note must be complete before this will occur.

Additional information

• Sample Repayment Schedule
• Find more detailed instructions on applying for the Parent PLUS Loan and the GRAD PLUS Loan.
• The Federal Student Aid website is the U.S. Department of Education’s comprehensive database for all federal student aid information. To view your federal loan history, log in to the federal student aid website. Your profile will provide personalized information like your federal student loan balance, disbursement dates and contact information. You can also view information on your federal loan servicer(s).

Email the the Solution Center at: TheSolutionCenter@uml.edu if you need help applying or deciding how much to borrow for your PLUS Loan.