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What is a Parent Plus Loan and What Are the Eligibility Requirements?

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Functional GroupFinancial Aid
Direct Parent PLUS Loans are loans for parents of dependent, undergraduate students to help pay for education expenses not covered by other financial aid. The U.S. Department of Education is the lender. The interest rate is fixed each July 1.

Eligibility Requirements

1. You and your parent must complete a FASFA before you can be offered a Parent PLUS Loan.
  • A valid FAFSA on file will be part of the credit evaluation process performed by the U.S. Department of Education.
  • The parent applying for the PLUS Loan must be your biological or adoptive parent.
  • A stepparent is also eligible to borrow if his/her income and assets were provided on the FAFSA.
  • Legal guardians or grandparents are NOT considered parents for financial aid purposes and are not eligible to apply for Parent PLUS Loans.
2. Your parent must not have an adverse credit history. 
  • A credit check will be conducted by the U.S. Department of Education.
  • The U.S. Department of Education will not share or send your parent's credit information to ASU.
  • Your parent will not qualify if their credit report indicates they are 90 days or more delinquent in any debt, are in default, have a bankruptcy that indicates they can’t incur new debt, foreclosure, repossession, tax lien, wage garnishment, or a write off on any Title IV federal financial aid during the last five years, unless your parent can obtain a creditworthy endorser (i.e., co-signer).
  • Find the U.S. Department of Education's definition of adverse credit history here.
3. Both you and your parent must be U.S. citizens or eligible noncitizens.


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