Application Procedures
The Parent PLUS Loan is available to parents of dependent, undergraduate students who are matriculated in a degree program and enrolled in at least six (6) credits. Parent must not have adverse credit history to participate through this program. Parents of dependent students may borrow up to the cost of attendance minus any other aid through this credit-based loan program each academic year. Only one parent can borrow (per application) through this loan program.

PLUS Loan Application
Parents interested in borrowing through the Direct PLUS Loan program must complete the request by visiting You will need your FSA ID and password to enter the site;  you will have the opportunity to create them if you do not have them yet. The parent borrower will receive an instant credit decision, and credit decisions are valid for 180 days from the initial decision date.

Sign your Master Promissory Note (MPN)
If approved for a Parent PLUS you must complete a PLUS Master Promissory Note (MPN). You may complete your MPN by visiting You will need your FSA ID to complete the MPN online. The Master Promissory Note is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s). The MPN is valid for up to 10 years.

If the PLUS application is denied, a borrower has three options.

  • Request a review of credit check due to inaccurate information on your credit report. Contact the Direct Loan Servicer at 1-800-557-7394 and complete a PLUS Counseling session.

  • Provide an endorser. The endorser must pass a credit check and sign a promissory note. Contact the Direct Loan Servicer at 1-800-557-7394 and complete a PLUS Counseling session.

  • Not pursue the PLUS loan. No further action.

Interest Rate
Direct Parent PLUS Loans: If the first disbursement of your subsidized loan is between July 1, 2019 and June 30, 2020, the interest rate on your loan is fixed at 7.08%.

There is a loan fee on all Direct Subsidized and Unsubsidized Loans. The loan fee is a percentage of the amount of each loan you receive. For loans disbursed on or after October 1, 2019 and before October 1, 2020, the loan fee is 4.236%. Ithaca College will deduct the loan fee proportionately from each loan disbursement. The specific loan fee that you are charged will be reflected in a disclosure statement that Ithaca College will send to you.