Eligibility criteria

1. Parents of dependent students are eligible to apply
2. Student must be enrolled at least half-time
3. Not in default on another student loan
4. U.S. citizen or eligible non-citizen
5. Maintain Satisfactory Academic Progress

Amounts and selection process

Parents of dependent students may borrow a maximum of the cost of education minus other financial aid.

Terms

For the 2013-14 academic year, the interest rate will be a fixed rate of 6.41 percent. Interest accrues while the student is in school.* Standard repayment period is 10 years. A net 4.204 percent processing fee is deducted from the loan proceeds when the funds are disbursed. Repayment begins 60 days after the loan has fully disbursed.

*Parent PLUS loans are eligible for deferment. Find out more about Parent PLUS loan deferment options.

Application process

1. File the Free Application for Federal Student Aid.
   
2. Complete PLUS Loan Request Form.
   
3. Approved credit-worthy parent will receive instruction from Marquette to sign the electronic master promissory note.

Renewal process

Award is renewed only if all necessary forms are filed each year and students & parents continue to meet eligibility requirements.