Direct Parent PLUS Loans are fixed-interest, federal loans that parents of dependent undergraduate students can apply for to help pay for their child's educational costs.

Loan funds are disbursed by the Department of Education to the University approximately 10 days before the start of classes each semester. The loans are typically divided equally between fall and spring semesters. Depending on the program, loans can be split between summer, fall, and spring semesters.

The following requirements must be met to be eligible for Parent PLUS loan funds:

• Have a valid FAFSA on file for the current academic year. 
• Students must be enrolled in at least 6 credits in any given semester.
• Students must be dependent undergraduates. Parents of students who are classified as independent, based on their FAFSA information, are not eligible to apply for a Parent PLUS loan. 
• The parent borrower must pass a simplified credit check done by the Department of Education. 

UMB does not automatically award Parent PLUS Loans. To apply, please complete the following steps: 

1. Complete the FAFSA (UMB School Code: 002104).
2. Apply for Parent PLUS Loan on StudentAid.gov.
   • Parents who have placed a security freeze on their credit must lift or remove the freeze with all three credit bureaus before applying for the loan. 
3. Parent must complete the Master Promissory Note (MPN) 
4. Student must request the UMB Parent Plus Request Form by emailing their financial aid counselor at nursing@umaryland.edu.

The maximum amount a parent may borrow in Parent PLUS loan funds each academic year is determined by the student's cost of attendance and the amount of other financial assistance the student is receiving. 
(Cost of Attendance - Other Aid Received = Limit)

Interest begins to accrue upon disbursement of the loan, and is calculated on a daily basis by your loan servicer. Origination fees also apply, meaning a portion of the loan amount is deducted upfront to cover administrative costs.

¹ For loan period 07/01/2024 - 06/30/2025

Parent PLUS Loan borrowers are required to pass a simplified credit check, meaning that the Department of Education is not looking for a certain credit score or for an extensive credit history, but simply the absence of an adverse credit history. Parents who are denied the Parent PLUS Loan will receive a email from the Department of Education notifying them of the decision. Some of the reasons for a denial include (but are not limited to): 

• Current delinquency of 90 days or more, including unpaid collection accounts and charge-offs.
• Default within the past five years or a defaulted loan that has been claim paid.
• Bankruptcy (Chapter 7, 11, and 12) within the past five years (Chapter 13 is acceptable).
• Discharge, foreclosure, foreclosure proceedings, deed in lieu of foreclosure, lease or contract termination by default, repossession, tax lien, wage garnishment, voluntary surrender, or write off of Title IV debt in the past five years.

Appeal Options

If denied, there are two options available to still borrow Parent PLUS loan funds:

Appeal the Credit Decision

The Department of Education allows borrowers whose credit was denied the opportunity to document either of the following situations: 

• Information showing that credit reporting used in the credit denial is incorrect and/or has been corrected.
• Extenuating circumstances exist relating to the adverse credit history. 

Obtain an Endorser

An endorser is someone who does not have an adverse credit history and agrees to repay the loan if the borrower does not repay it. The endorser must be 18 years of age or older and must be a U.S. Citizen or Permanent Resident. 

Parents who opt to appeal the decision or obtain an endorser must also complete PLUS Credit Counseling.