Federal Parent PLUS Loan

The PLUS Loan is a federally sponsored loan program that allows parents to borrow to meet educational expenses for dependent undergraduate students. To be eligible for the PLUS Loan:

  • The student must be considered a dependent student.
  • The applicant must be the student's biological or adoptive parent or the student's stepparent.

The U.S. Department of Education is the lender and will assign your loan servicer.

Federal Graduate PLUS Loan

The Graduate PLUS Loan is a federally sponsored loan program that allows graduate students to borrow, after all unsubsidized loans have been exhausted, to meet educational expenses. If you would like to pursue this option, please contact (sfs@semo.edu) our office.

Parent PLUS Loan

The total amount of a PLUS loan may not exceed the cost of attendance minus all other financial aid.

Federal law sets the maximum interest rates and fees that may be charged for Direct Loans. Interest rates are set based on the date the first disbursement is made to your student account, at Southeast. Interest begins accruing as soon as the first disbursement is made.

First Disbursement Date Interest Rate
July 1, 2022 - June 30, 2023 7.54%
July 1, 2023 - June 30, 2024 8.05%

Additionally, each loan has an origination fee that is withheld from the amount borrowed, slightly reducing the amount paid to your student account. For example, if you borrow $1,000 and the origination fee is 1%, you will only receive a payment toward your student bill of $990.00 ($1,000 - 1% ($10) = $990.00).

First Disbursement Date Origination Fee
October 1, 2022 - September 30, 2023 4.228%
October 1, 2023 - September 30, 2024 4.228%

File a FAFSA (Free Application for Federal Student Aid)

Once your financial aid eligibility is determined, the student will receive an award notification through their Southeast email account.

Please visit the Southeast portal to access the online award letter, as instructed. All terms and conditions of the loans should be read and accepted.

Complete a Federal Parent PLUS Loan Application online at https://studentaid.gov. A credit check will be completed by the Department of Education to determine credit-worthiness.

If the loan is approved - The borrower will need to complete a Master Promissory Note (MPN), if he/she has not previously borrowed through the Direct PLUS program for this student. The MPN must be signed by the same parent that applied for the loan.

If the loan is denied - The borrower may then choose from ONE of the following options:

  • *The parent may appeal the credit decision if there are extenuating circumstances.
  • *The parent may have a third party endorser co-sign the PLUS loan application with the original applicant.
  • The student may be able to borrow additional Unsubsidized Loans.

*If selecting one of these two options, the parent must complete a PLUS counseling session online.

Repayment begins right after the last disbursement of the loan. There is no grace period for the PLUS Loan. The borrower will be notified by the servicer of the loan when the date of the first payment is due. To find out who services the PLUS loan, please visit the National Student Loan Data System.

Parents can request a deferment while their student is enrolled at least half-time (minimum of six hours), and for six months after he/she graduates or drops below half-time enrollment. Parents can request a deferment form through the servicer of their Parent PLUS loan.

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Mailing Address
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