Direct Parent Loan
(formerly called the PLUS Loan
Program)
What is a Direct Parent Loan?
A
Direct Parent Loan, officially called the William D. Ford Federal
Direct PLUS Loan, is for parents of dependent students who want
to borrow to help pay for their children's education. Students
are not eligible to borrow on their own behalf in this program.
I am a student, but I have children
also enrolled at UNLV. Can I borrow a Direct Parent Loan?
Provided your children meet the
eligible student requirements, you may be eligible to borrow
in the Direct Parent Loan Program.
What is required of my family
and me?
You must be admitted and be enrolled
at UNLV at least halftime. It is not necessary for your family
to have financial need to be eligible for the Direct Parent
Loan Program.
How much can my parents borrow
from the Direct Parent Loan Program?
Your parents can borrow up to
your cost of attendance minus other aid you receive.
What is the interest rate on
a Direct Parent Loan?
The interest rate is variable,
but it will never exceed 9 percent. The interest rate is adjusted
each year on July 1.
When does repayment begin for
a Direct Parent Loan?
Repayment begins within 60 days
after the final loan disbursement.
Are there any charges for making
a Direct Parent Loan?
Your parents will pay a
fee of up to 4 percent of the loan, deducted proportionately
each time a loan payment is made.
Will the Direct Parent Loan be
automatically sent to my parents?
No. Your parents will be given
an option to sign an authorization allowing the university to
credit the loan to your fee account and allowing any funds beyond
fees to be released to you.
Is it guaranteed my parents will
be eligible for a Direct Parent Loan?
No. Direct Parent Loan borrowers
are subject to a credit check. Durect
