Aid Programs
Federal Direct PLUS Loans (for parents of dependent undergraduates)
Federal Direct PLUS Loans allow graduate and professional students and parents of dependent undergraduate students to borrow up to the cost of education, minus other financial aid; there are no aggregate loan limits. For new borrowers this program has a fixed interest rate capped at 7.9%. A 4% origination fee is charged at disbursement. Repayment begins within 60 days after final loan disbursement, unless the borrower is eligible for deferment. Borrowers cannot have an adverse credit history.
To be eligible:
- the borrower must be a parent or eligible step-parent of a dependent undergraduate student;
- for fall, spring, and/or summer funds, the student must be enrolled at least half-time; see “Enrollment Requirements,” in Understanding your Award Letter;
- the student must maintain satisfactory academic progress;
- the borrower and the student must not have defaulted on or owe a refund to any previous aid program;
- parent borrowers and students must be U.S. citizens, nationals or permanent residents; and
- borrowers must have no adverse credit history.
To apply:
- Pick up a UF FDPLUS Application from one of the customer service windows in S-107 Criser Hall or visit our forms page to print one. Graduate borrowers must complete a Federal Direct Graduate PLUS Loan application.
- When the loan is processed, your parent will receive instructions on how to complete an electronic Master Promissory Note.
To receive funds:
- See “Receiving Your Financial Aid”.
- Once classes have begun, the promissory note process has been completed, and UF has verified that the student is enrolled, UF issues these checks to the borrower.