Parent PLUS Loans

If you are an eligible parent interested in applying for a Federal Direct PLUS Loan, you will need to complete the following steps:

  1. Ensure that the student in which you are applying for the loan has applied for admission to the College, been placed into an eligible academic curriculum, and is making Satisfactory Academic Progress (SAP) and has a current year completed FAFSA form on file at Laurel Ridge.
  2. Obtain and complete the Federal Direct Parent PLUS Loan Request Form which includes the Consent to Obtain Credit Report form on or before the recommended completion date each semester. Provide all documents, as required, to the Financial Aid Office. You will be notified via your student e-mail account and/or your To Do list in the Student Center section of your My Laurel Ridge account. Complete the Master Promissory Note (MPN). Once you access this Web site, click “Sign In” and enter the requested information. You will need your FAFSA Personal Identification Number (PIN). Next click on “Complete Master Promissory Note” then select “Parent PLUS” as the type of loan you would like to receive. By doing so, you are authorizing the Department of Education to perform a credit check. Ensure that the student enrolls for, attends, and maintains at least six credit hours to maintain loan eligibility.

    Students must stay active in at least six credit hours each semester. Students who drop below half-time status will have the Federal Direct PLUS Loans canceled. If you withdraw and/or fail all your classes, you may be required to repay a portion of your loans(s) and /or grant(s), as applicable. 
  3. Ensure that the student enrolls for, attends, and maintains at least six credit hours to maintain loan eligibility. Students must stay active in at least six credit hours each semester. Students who drop or withdraw below half-time status risk having Federal Direct PLUS Loans canceled.
  4. Determine how much you need to borrow. The parent will be notified by the Department of Education of acceptance or denial of the PLUS loan request.

    If the PLUS loan is denied, the servicer will provide instructions concerning an endorser. If a PLUS loan is denied and the parent does not wish to seek an endorser, the student becomes eligible for an additional unsubsidized loan up to $4,000, depending on the student’s cost of attendance.
Student TypeCompleted CreditsSubsidizedUnsubsidizedAnnual Max (Sub & Unsub)Lifetime Maximums
DependentBetween 1- 30$3,500$2,000$5,500$31,000 ($23,000 sub max)
Dependent31 or more$4,500$2,000$6,500$31,000 ($23,000 sub max)
IndependentBetween 1- 30$3,500$6,000$9,500$57,500 (sub & unsub)
Independent31 or more$4,500$6,000$10,500$57,500 (sub & unsub
  1. View award at your MyLaurelRidge>Student Center>View Financial Aid (Be sure to turn in any documents listed under your “To Do List” as these will need to be turned in before an award will be processed).

    Please Note: Please Note:  MPNs expire 10 years after the date that the Department of Education receives the signed MPN. The only thing you have to do each time you wish to borrow is complete the Laurel Ridge Federal Direct PLUS Loan Request Form which includes the Consent to Obtain Credit Report form and submit it to the Financial Aid Office.

**Please allow 4-6 weeks for College Processing, depending on the time of year**

Loan Application Important Dates and Priority Deadlines

SemesterApplication Priority Start DateApplication Priority End Date
Fall/Spring/Fall onlyJuly 1September 1
Spring onlyNovember 1January 1

Please note: Applications received after these dates will be processed in the order in which they are received. A student must have a payment method in place to pay for classes at the time tuition is due if the loan has not been processed before the tuition due date.

If you wish to cancel or adjust your loan amount after the award has been posted to your account, please complete the Request Adjustment to Federal Student Loan Awards form and submit it to the Financial Aid Office as soon as possible.

Need Help?

Contact the Financial Aid Office