The Direct Parent Loan for Undergraduate Students (PLUS) provides loans to parents of undergraduate dependent students. Parents may borrow the difference between the student's cost of education and all other financial assistance. You have the option to begin payments on a Direct PLUS loan 60 days after the full amount that you've borrowed has been disbursed, or defer payments while your student is enrolled.  The interest rate for Direct PLUS loans is a fixed rate of 6.31% for loans disbursed after July 1, 2016 and before July 1, 2017.  Interest is charged on Direct PLUS Loans during all periods, beginning on the date of your loan's first disbursement.

To apply for a Direct Parent PLUS loan:

Please visit the following website to complete the application for the  Federal Parent Plus Loan:

Parent - please Log In using your FSA ID.  If you have not created a FSA ID please click on "Create an FSA ID"
There are two items you need to complete in order to borrow a federal parent PLUS Loan, the Master Promissory Note and the PLUS loan Application.

From the welcome page,
You will select complete PLUS Loan Master Promissory Note. 
You will select the third option, PLUS MPN for Parents.
Please select the box labeled Complete PLUS MPN for Parents and proceed to complete the form.

The second step is to complete the PLUS loan application.
Please click on My Account in the top left corner to be taken back to the welcome page.
Please select Apply for a PLUS loan.
Please select the second option, PLUS loan reqeust for parent borrowers.
Please refer to your student’s billing statement when deciding the amount you need to borrow.
There is a 4.276% origination fee withheld from the proceeds of the PLUS loan.  You may want to gross
up the amount you borrow so you net enough to cover your student's bill.  (Balance Due/.9576)

Cornell will receive electronic notification that you have completed these forms within 24 hours.

The Department of Education will be servicing your Federal Direct Parent PLUS loan.  After your PLUS loan has been disbursed, you can access information, with your federal FSA ID on  You may also call 1-800-848-0979 to speak with a customer service representative.  You will receive information regarding payment of your Parent PLUS loan within 30-60 days after the loan has disbursed. If you would like to apply to defer payments on your PLUS loan while your student is enrolled at least 1/2 time, please call the Department of Education at 1-800-848-0979 to speak with them about the process.