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:  

More information on Federal Direct Parent PLUS Loans.

There is a loan fee charged prior to funds being received at SPC.

Interest is charged on PLUS Loans.

What is a PLUS loan?