Federal Direct Parent PLUS Loans

Parent PLUS loans help parents of dependent undergraduate students pay educational expenses. Loan funds come directly from the U.S. government. Parents can borrow up to the difference between NDMU's estimated Cost of Attendance and other aid or resources expected to be received. Parent PLUS loans have an interest rate of 7.08% for the 2019-2020 Aid Year, this is the fixed rade for the life of the loan.


A parent applying for a Federal Parent PLUS Loan must be the biological or adoptive parent of a dependent undergraduate student. Step-parents whose information is included on the FAFSA are also eligible to apply for the loan. Parents must have an acceptable credit history or be able to apply with an eligible co-signer. Application process is posted on the financial aid website.

Disbursement Process

      • When the loan is scheduled to disburse, the Department of Education will send the funds to Notre Dame electronically.
      • All funds will disburse through the student's NDMU student account.
      • After tuition and other charges on the account are paid, any remaining balance will be issued to the student or parent via a check (depending upon how the parent completed the application), and will be mailed to the address on record with the University.

PLUS Loan Fees

For 2019–2020 Parent PLUS loans, which will disburse after October 1, 2019 and before October 1, 2020, a 4.236% origination fee will be charged by the U.S. Department of Education.

Repayment Terms

Repayment begins within 60 days after the final disbursement of each loan. Borrowers may be able to postpone principal payments while the student is in school (up to four years). Contact the Direct Loan Servicer for repayment and forbearance options. The maximum repayment period is 10 years, and the minimum monthly payment is $50.