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Discover federal loans for parents and grad students

See how Federal Direct PLUS loans can help you pay for your child’s undergraduate expenses or for your own graduate education.

What is the Federal Direct PLUS Loan program?

PLUS loans give you access to education loans with lower interest rates and more favorable repayment terms than those you might get from a private lender without having to demonstrate financial need. There are two types of PLUS loans available.

Federal Direct Parent PLUS Loan

If you’re financing your child’s undergraduate education, you can apply for a Parent PLUS loan. You'll have the option to begin repayment immediately or defer payments until after your child leaves school.


To qualify for a Parent PLUS Loan, you must be the biological or adoptive parent of an undergraduate student attending IU Indianapolis at least half time. Loans are credit-based and require a separate application.

See eligibility requirements for parents


If you have a Parent PLUS loan, you can choose to start making loan payments immediately or defer repayment until after your child leaves school or drops below half-time enrollment.

Federal Direct Graduate PLUS Loan

If you’re financing your own graduate education, this is the loan for you. Although interest will begin to accrue immediately, you won’t have to begin repayment until after you graduate or drop below half-time enrollment.


To qualify for a Graduate PLUS loan, you must be a graduate or professional student enrolled at least half time in a degree-granting program at IU Indianapolis.

See eligibility requirements for students


If you have a Graduate PLUS loan, your payments will be automatically deferred while you’re attending school at least half time. You’ll start making loan payments six months after you graduate or drop below enrollment requirements.

How much can I borrow?

While the exact amount will depend on your circumstances, in general, you can borrow up to the cost of attendance at IU Indianapolis minus any other financial aid you’ve already received. Your loan will pay for tuition, fees, housing and food, and other eligible school charges. Any funds that remain after these items are paid will be refunded.

How do I apply for a PLUS loan?

First, make sure you or your child have completed the FAFSA for the upcoming school year. Then, you’ll need to complete the application for the type of PLUS loan you’re seeking.

If you’re a first-time PLUS loan borrower, you’ll need to sign an online Master Promissory Note (MPN) agreeing to the loan terms. You’ll need your personal FSA ID to sign it.

IU Indianapolis

Office of Financial Aid & Scholarships

Campus Center, Room 250
420 University Blvd

Indianapolis, IN 46202