What is a PLUS Loan for Parents?
PLUS Loans enable parents to borrow for each of their dependent children enrolled in at least six credits and meet FIU's satisfactory academic progress requirements.

Advantages are:
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  • Cost-effective alternative to depleting savings or retirement accounts, using current income, or borrowing against home equity "
  • Parent is the borrower of the PLUS loan rather than
    a cosigner on student’s private loan; student’s debt burden is reduced
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  • Low interest
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  • Credit criteria are generally more lenient than for private loans
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  • Borrow up to the cost of attendance minus other aid
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  • In the event of permanent disability or death of the borrower or student, your loan will be forgiven.
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  • Flexible Repayment Options
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  • Borrowers may choose from several payment plans including standard, graduated, income-sensitive, and extended.
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  • Some lenders allow for interest-only payments
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  • A few lenders will let parents postpone payment of both principal and interest for up to four years while their student is in school at least half time.

Contact your lender to determine the repayment options offered, which option is best for you, and how to apply for the repayment option of your choice.

How To Apply
The parent can apply for a PLUS loan and receive a pre-approval decision by contacting one of the PLUS loan lenders listed. Please make sure you complete the correct application with your lender. Parents should complete the PLUS (Parent Loan for Undergraduate Student) application. Upon approval, the parent must sign a PLUS Master Promissory Note (MPN) electronically (online) or sign a hard copy of the MPN and mail it back to their lender.
Borrowers must submit proof of US Citizenship to the FIU financial aid office.

The lender will notify our office of the preapproval decision so that we can
determine final eligibility.

About our Lender Partners
These are our Lending Partners as selected through a competitive process following a Request For Proposal (RFP) process through the FIU Purchasing and Procurement Office.

We encourage you to research these Lenders when deciding who you will borrow through. The Lenders were selected on the basis of best service in processing, lowest cost and customer service.

If you wish to use a Lender not on our Lending Partner list, through PantherSoft, please complete an Administrative Request with the name of your Lender. In order to expedite the processing of your loan, please request your Lender to submit by mail or by fax a Stafford Loan Certification form to the Financial Aid Office.

Click on the lender logo or web address to research additional information and apply online.
Lender Code Key Features — Federal PLUS Loan for Parents