Parent PLUS loans

PLUS loans are for graduate or professional students, and parents of dependent undergraduate students.

These loans can help pay for education expenses not covered by other financial aid.​ Interest rates and repayment provisions on PLUS loans are generally more favorable than other alternative loans available for educational expenses.

  • Be a graduate or professional student enrolled at least half-time in a program leading to a graduate or professional degree or certificate; or
  • Be the parent (biological, adoptive, or in some cases, stepparent) of a dependent undergraduate student enrolled at least half-time; and
  • Not have an adverse credit history; and
  • Meet the general eligibility requirements for federal student aid

​​If you are borrowing on behalf of your child, your child must also meet these requirements.

Interest Rates & Borrowing Limits
  • Federal Direct PLUS loans have a interest rate of 7.54% with an origination loan fee of 4.228%.
    • For undergraduate students, borrowing both Direct Subsidized and Unsubsidized loans have an interest rate of 4.99% with an origination loan fee of 1.057%
    • For graduate students, borrowing an Unsubsidized loan has an interest rate of 6.54% with an origination loan fee of 1.057%.
  • Interest is charged from the date of the first disbursement until the loan is paid in full

Application Process
  • Log into
    • You will be prompted to obtain a FSA User ID and password. Parent PLUS Loan borrowers must sign in using their FSA User ID and not the student’s
  • Under the Loans and Grants tab, select the PLUS Loan option
  • Follow the steps to complete the PLUS Loan application
  • Complete the School and Loan Information Section
  • The Department of Education will evaluate your credit and approve or deny the application. You will receive an immediate response
  • If your credit is approved, you will be given instructions for completing a PLUS Loan Master Promissory Note (MPN) on
  • The Federal Direct Loan program will forward the approved PLUS Loan application to the Financial Aid Office to verify enrollment and eligibility
    • Please be aware it may take up to 48 hours for UNC Charlotte to receive your submitted application
  • If there are remaining funds available after University charges are paid, you can have these funds sent to you or your student from your Parent PLUS Loan disbursement

Note: “The Office of Financial Aid cannot process a PLUS Loan application if no amount is provided. Please enter a specific amount or check the “maximum” option to cover up to the student’s cost of attendance budget. If you do not know the amount you want to borrow, save the application and contact Niner Central to help determine the amount.

Credit Check
  • Applicants are also required to pass a credit check when they are applying for the PLUS Loan, if a parent’s application for a PLUS loan is denied based on their credit history, the student may become eligible for an additional unsubsidized student loan
    • Freshman and Sophomores are eligible for an additional $4,000 per year
    • Juniors and Seniors are eligible for an additional $5,000 per year

Credit Appeals & Endorsers
  • If the PLUS Loan is credit denied, you may choose to obtain an endorser or provide documentation to the Department of Education to appeal the credit decision
  • Contact the Department of Education at 800-557-7394 to start the appeal or get detailed information regarding the endorser addendum
  • Parent and Graduate PLUS loan applicants who qualify for a Direct PLUS Loan by obtaining an endorser or due to a credit appeal decision, are required to complete PLUS Loan Credit Counseling at

  • Graduate students will have PLUS Loan refunds sent to the Direct Deposit established through their MyCharlotte account
  • Parents will indicate on the PLUS loan application how they wish to have PLUS Loan refunds processed
  • Parents have the choice to have the refund mailed to them at the address listed on the application or have the refund sent to the student via the Direct Deposit account set up on the student’s MyCharlotte account