Parents can borrower up to the total cost of education minus any other financial aid.  A PLUS loan does require a credit check but it is not based on income or credit score. Loans 1st disbursed after 7/1/2006 will be a fixed 8.5% interest rate. This loan goes into immediate repayment after the final disbursement is sent to the school.  Instructions: Complete the PLUS pre-approval process that your school uses.  Please be sure to use Lender Code: 821016 when going through the process. Complete the Federal PLUS Master Promissory Note (MPN) (printable version) or via e-sign: Electronically Sign. (secure site) The funds will be sent to the school on the scheduled disbursement date. *All loans subject to approval, including credit approval.

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