The Direct Parent Loan for Undergraduate Students (PLUS) Program is designed for parents to borrow money to pay education expenses for a dependent child who is enrolled in college. The student must be enrolled in at least six semester hours and making satisfactory academic progress in a course of study.
The maximum loan amount a parent may borrow for each dependent undergraduate student each year is the cost of attendance minus estimated financial assistance.
The interest rate is a variable rate. The borrower is required to pay a guarantee fee and origination fee for each loan. The interest on a PLUS loan must be paid by the borrower and begins to accrue on the day the loan is first disbursed. Repayment of the loan must begin within 60 days of the last disbursement of each loan.
Direct PLUS applications are available at the MCC Financial Aid Office.