Federal Direct PLUS Loan


Parent PLUS (Parent Loan for Undergraduate Students) Loans are available that enable birth, adoptive, or step-parents of dependent undergraduate students to borrow. There is a federal origination fee of 4% deducted proportionately from each loan disbursement. See current interest rates for PLUS loans.

How to apply for a 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 Loan for Undergraduate Students (PLUS) 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.
  5. If your student attends less than full-time during any term, the Cost of Attendance and financial aid award amounts will be adjusted. This could result in reduction or removal of loans or other financial aid.
  6. If your student will be graduating at the end of fall term, they will have their Federal Direct Stafford and Federal Direct PLUS loan amounts adjusted based on enrollment during the fall term.

Federal PLUS loan eligibility

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 FSA ID
  • 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. A credit check is required for approval.
  • Applicant must complete the SPC Federal Direct Parent PLUS Loan Certification Form 
  • Applicant must complete the Federal Direct PLUS Master Promissory Note  

More information on Federal Direct Parent PLUS Loans.

What is a PLUS loan?