Direct Parent PLUS Loans

Direct Parent PLUS Loans allow parents of dependent children to borrow loan funds through the U.S. Department of Education.  These loans have a fixed interest rate of 7.21%.  Loans with a first disbursement date before October 1, 20143 have a 4.288% loan fee.  Loans with a first disbursement date on or after October 1, 2014 have a 4.292% loan fee.  Interest begins accruing as soon as the loan funds are disbursed.  For more information about Direct Loans, please refer to

To be eligible for a Parent PLUS loan, you must:

  • submit the FAFSA for each academic year you wish to obtain a Parent PLUS loan.
  • be a U.S. citizen or an eligible non-citizen.
  • have no prior outstanding student loan in default and not owe a repayment on any federal aid.
  • complete a Direct Parent PLUS loan application and Master Promissory Note (MPN).

In addition, your daughter must:

  • be meeting Saint Mary's Financial Aid Standards of Satisfactory Academic Progress.
  • be enrolled at least half-time as an undergraduate student.
  • be considered a "dependent" student at the time the FAFSA is submitted.

To Apply for a Federal Parent PLUS Loan for 2014-15 Academic Year: 

  1. Before beginning the application process, please review the eligibility requirements.
  2. Go to and click the "Sign In" button.  You will need your PIN to complete this.  It is the same PIN used to complete your daughter's FAFSA.
  3. Once you are signed in, select "Start PLUS Application Process" and then "Parent PLUS" as the loan type.
  4. Once you have gone through the application process and received approval for the PLUS loan, complete the Master Promissory Note. If you have logged out of this site, you will need to log back in with your PIN prior to completing the next step.
  5. On the left-hand side of the page, select "Complete MPN" and then select "Parent PLUS" as the loan type.
  6. Continue following the steps as directed.  When you are asked to select a state and a school, select "Indiana" under "School State" and "ST MARYS COLLEGE" under School Name.


If you are experiencing technical difficulties with the application or MPN process, please contact COD Applicant Services at 800-557-7394.