Fill out the Free Application for Federal Student Aid.
These are unsubsidized loans for the parents (natural, adoptive, or step-parent whose information is on the FAFSA) of dependentSee Dependency Status. students. The Direct PLUS is a federal non-need based program. PLUS loansParent Loans for Undergraduate Students (PLUS) are federal loans available to parents of dependent undergraduate students to help finance the child's education. Parents may borrow up to the full cost of their children's education less the amount of any other financial aid received. PLUS Loans may be used to pay the EFC. There is a minimal credit check required for the PLUS loan, so a good credit history is required. Students are advised to check with their local bank to see if they participate in the PLUS loan program. If the application for a PLUS loan is turned down, the student may be eligible to borrow additional money under the Unsubsidized Stafford Loan program. help pay for education expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods. The lenderA lender is a financial institution that provides funds to the student or parent for an educational loan. is the U.S. Department of Education.
Detailed instructions for completing the Direct Parent PLUS Request are available here.
The annual limit cannot exceed UNT Cost of Attendance minus the other financial aidMoney provided to the student and the family to help them pay for the student's education. Major forms of financial aid include gift aid (grants and scholarships) and self help aid (loans and work). the student receives.
Loan funds will not disburse (pay) until all requested documentation has been submitted, and your aid application is considered to be complete.
A note will be placed on the student's myUNT "To Do List" if additional steps are required before disbursement.
Federal Regulations state financial aid must wait until 10 days before the start of the semester to begin disbursing money to pay your account. Taking this into account, if the financial aid file is complete we will disburse as early as 10 days before the start of the semester. Disbursements can also occur throughout an enrollment term upon completion of a file. Student accounting will begin the refund process once funds have been released to your account.
For Summer, loan funds will be released in one disbursement on the 1st class day of the session in which the student establishes half-time attendance.
Interest rates for the the Federal Direct Student Loans are determined each spring before the upcoming award yearThe academic year is defined as a set number of semesters as determined by the institution. (defined as July 1st through June 30th). Each loan will have a fixed interestIn a fixed interest loan, the interest rate stays the same for the life of the loan. rate for the life of the loan. You can find additional information regarding the Federal Student Loan interest rates at the Federal Student Aid website.
LoanA loan is a type of financial aid that must be repaid, with interest. The Federal Student Loan Program is a good method of financing the costs of your college education. These loans are better than most consumer loans because they have lower interest rates. The Federal Loans and Perkins Loans also provide a variety of deferment options and extended repayment terms. repayment for parent borrowers begins 60 days after final disbursementDisbursement is the release of loan funds to the school for delivery to the borrower. The payment will be made co-payable to the student and the school. Loan funds are first credited to the student's account for payment of tuition and fees. Any excess funds are then paid to the student in cash or by check for the purpose of paying for other educational expenses. of funds. Deferments are available for parents who wish to postpone repayment until after the dependentSee Dependency Status. student has graduated or withdrawn. Parent borrowers can request a deferment while submitting the online Direct Parent PLUS Request. Deferments can also be requested by contacting the U.S. Department of Education.
For more information regarding repayment, please visit Direct Loan Repayment Plans.
For information regarding deferment, please visit Direct Loan Deferment.
Between 10 and 25 years to repay, depending on the amount owed and repayment plan selected.