St. Cloud State University
Financial Aid Office
Types of Financial Aid - Federal

Parent Loan to Undergraduate Students (PLUS)

If you are a dependent student for financial aid purposes, the PLUS enables your parent(s) to borrow funds to assist you with education-related expenses. The PLUS is not based on need, meaning it does not depend on family income or assets; however, the program requires that you apply for financial aid to be considered for the PLUS Loan.

The school verifies the parent's loan eligibility based on the cost of attendance, any other financial aid the student has, and the student's enrollment status. A credit check is required for the PLUS. The PLUS has a fixed interest rate of 7.90% and an origination fee of 4.0%. Repayment begins 60 days after the final disbursement of the loan.

The PLUS Loan is not listed on financial aid award letters although may be used to borrow up to the amount listed as "Remaining Loan Eligibility" on your (the student) award letter. If you (the parent) plan to borrow the PLUS Loan:

If a parent is denied a PLUS the student may be eligible for additional unsubsidized Direct Loan. Please contact our office for more information.

Graduate/professional students are also allowed to borrow under the PLUS program. Federal regulations stipulate that a student cannot receive financial aid in excess of the cost of attendance. Therefore, many SCSU graduate students may not be eligible to borrow additional funds under the PLUS program as their total eligibility would have been met under other student loan programs.

Return to the Loans Overview Page

Financial Aid Office
Phone: (320) 308-2047

Campus address
720 4th Avenue South
St. Cloud, MN 56301-4498
(320) 308-0121
St. Cloud State University is an affirmative action/equal opportunity educator and employer.
St. Cloud State University is a member of the Minnesota State Colleges and Universities system.
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