Federal Direct PLUS Loan
St. Lawrence University participates in the William D. Ford Federal Direct Loan program for all federal educational loans, including the Federal Parent PLUS Loan. A Parent PLUS Loan is a federal loan that is an option for parents of undergraduate students who are attending school at least half-time. The PLUS loan is borrowed in the parent's name.
More information:
- For loans borrowed after July 1, 2026, the maximum annual loan amount is $20,000 or up to the cost of attendance less all accepted financial aid, whichever is less.
- Interest rate and origination fee information may be found here.
- A PLUS Loan is not need-based.
- A credit review must be performed to determine eligibility.
- Standard repayment begins within 60 days of the final disbursement of the loan (see Deferment Option below).
- Standard repayment term is 10 years.
- Parent borrowers may finance no more than $65,000 in PLUS loans for each dependent student in total over the lifetime of the student. Parents who had a PLUS loan disbursed before July 1, 2026 are not subject to the annual or lifetime limit while the student is enrolled, or for three academic years, whichever is less.
Deferment Option: For Federal PLUS loans made to parents that are disbursed on or after July 1, 2008, federal regulations provides the borrower with the option of deferring repayment until six months after the dependent student, on whose behalf the parent borrowed, ceases to be enrolled on at least a half-time basis. This deferment is not automatic. This status is an option when completing the PLUS application. Borrowers interested in deferment on their Federal Direct Parent PLUS Loan should contact the Direct Loan Servicing Center at (800) 848-0979 to confirm that they have correctly enrolled in the deferment status.
Application Process:
To apply for a Federal Direct PLUS Loan, an application must be completed and a Master Promissory Note (MPN) must be signed. Parents may complete both of these steps at Studentaid.gov. An FSA ID is required to complete both steps. Please note - when completing the PLUS loan application, an amount or the words "maximum amount" must be listed. If you need assistance in calculating the amount to borrow, send an email request to finaid@stlawu.edu and include your name, student's name and daytime phone number where you can be reached.
Remember, by signing the MPN, you are agreeing to pay back any Federal Direct PLUS Loans that you receive to pay for your child's education and that these loan funds are borrowed in the parents name. Please note that only first-time borrowers are required to sign the MPN.
If you have any questions or require assistance, please contact Student Financial Services at sfs@stlawu.edu or by phone at 315-229-5581.
The U.S. Department of Education offers the following Websites to assist in the planning for repayment of Federal educational loans: