Federal Direct PLUS Loan

1. The Federal PLUS Loan is not based on financial need; however, SPC requires completion of the FAFSA (Free Application for Federal Student Aid).
2. Complete the SPC Federal Direct Parent PLUS Loan Certification Form.
3. Complete the Federal Direct PLUS Master Promissory Note. This only needs to be completed once while your student attends St. Petersburg College.
4. Your student will need to accept the loan in MySPC.

To be considered for a Federal Direct PLUS Loan:  

• The student must complete a FAFSA (Free Application for Federal Student Assistance)
• The parent must obtain a Federal PIN (Personal Identification Number)
• Students and parents must be a U.S. Citizen or eligible non-citizen
• Students and parents must not be in default on a federal education loan or owe an overpayment on an educational grant
• Student must be seeking a degree
• Student must be enrolled at least half-time (minimum of six credits)
• Student must attend classes and maintain Satisfactory Academic Progress
• Applicant cannot have an adverse credit history
• Applicant must complete the SPC Federal Direct Parent PLUS Loan Certification Form 
• Applicant must complete the Federal Direct PLUS Master Promissory Note 

Parents may borrow the full yearly Cost of Attendance (as established by Financial Assistance Services) minus all other eligible financial assistance.

For example, if the Cost of Attendance is $6,800 and the student receives $4,000 in other financial assistance, your parent(s) could borrow up to, but no more than, $2,800. There is no cumulative borrowing limit.

See Direct Loans for Parents for more detailed information.