PLUS Loan Application Process

Application Tips

Apply for a PLUS Loan on/after May 1st for the upcoming academic year.  Be careful to select the correct Academic Year when you apply!

  • Avoid having a second credit check mid-year: apply for an amount to cover your estimated full year expenses
  • Student account balances for the upcoming fall are typically available by late June.  
  • To decrease an existing loan, send a detailed email to [email protected]
  • To increase an existing loan, complete a new PLUS application for the new total amount. Note, this may result in a new credit check. 

Application Process

Step 1:  The Free Application for Federal Student Aid (FAFSA) at http://www.fafsa.ed.gov is required and must be completed before any PLUS Loans can be processed.

Step 2:  Complete the PLUS Loan Application and PLUS Loan requirements online. (See Tips above) 

 Your completed PLUS Application and completed loan requirements will be sent electronically to the Brown University Loan Office.

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Loan Details

See our Federal Loans page for details on interest rate, origination fees, and grace periodEstimate your education expenses using the Tuition & Fees charts. The maximum loan amount may not exceed the cost of education, minus other estimated financial assistance.

If you are requesting less than the maximum, you may choose to add the amount of the origination fee to your requested loan amount. To include the origination fee in your requested loan amount, determine how much you need to cover your expenses (net amount) and divide that amount by .9573. NOTE: The origination fee increases for loans first disbursed after October 1st each year. 
(Ex: To receive a net amount of $5,000 applied toward your student account, divide $5,000 by .9573 for a total loan request of $5,223.)

Eligibility

The borrrower must either be a Graduate/Professional student borrowing for their own educational expenses, or a parent borrowing for their dependent undergraduate student's educational expenses.  The student and parent must be a U.S. Citizen or eligible non-citizen, be creditworthy, and not be in default on any prior educational loans. In addition, the student must be enrolled at least half-time in a degree program, and making satisfactory academic progress.

Credit Information

The credit decision is valid for 180 days and must still be in effect at the time of first disbursement.

Concerned about passing the credit check?  Review the PLUS Loans & Adverse Credit Fact Sheet published by the Department of Education.  Credit history is considered adverse (negative) if a borrower has:

  • one or more debts with a combined outstanding balance greater than $2085 that are 90 days or more delinquent, or have been placed in collections or charged-off within the past 2 years
    OR
  • within the past 5 years: default determination, bankruptcy discharge, foreclosure, repossesion, tax lien, wage garnishment, or write-off of a federal student aid debt

If a borrower is denied, there are a few options available:

  •  The borrower can appeal the decision by providing supporting documentation as requested by the Department of Education.  
  •  The borrower can have a credit-worthy co-signer complete the Endorser process.
  • All borrowers who are initially denied and later approved through appeal or endorser must complete PLUS Loan Credit Counseling. Borrowers will be notified of this requirement by the Department of Education. NOTE: This counseling is separate from the Entrance Counseling and does not satisfy the Entrance Counseling requirement in any way.
  •  Families can contact the Brown University Financial Aid Office to inquire about additional Federal Direct Unsubsidized Loans available to the student.
  •  The borrower can apply for the Installment Payment Plan administered by the Bursar’s Office.

Loan Repayment

Use the Repayment Estimator to estimate your monthly payment amount. Learn more at Repay Your Loans.