The Parent PLUS loan is a federally backed loan available to all parents of dependent students. The dependent student and parent are required to file the FAFSA to be eligible for a Parent PLUS loan. All PLUS loan decisions are credit-based, and parents must re-apply for a PLUS loan each academic year. The repayment period on the Parent PLUS loan is 10 years. Payments begin 60 days after the last disbursement of each individual loan application. However, if the parent applies for a PLUS loan and it is declined by the Department of Education, the student is then eligible for an additional Unsubsidized Direct Loan up to $4,000 for first-year students and sophomores and up to $5,000 for juniors and seniors.
* When deciding on the amount to borrow, please allow for a 4.236 percent Federal origination fee that will be deducted from the loan amount before it is disbursed to Maryville College.
Federal Parent PLUS Loan Changes Effective July 1, 2026
Beginning July 1, 2026, Federal Parent PLUS Loans will be limited to a maximum approval amount of $20,000 per student, per academic year. Additionally, a lifetime borrowing limit of $65,000 will apply to each parent throughout the entirety of their student’s undergraduate enrollment.
Parents and students are encouraged to communicate proactively and plan their finances carefully to support a full four‑year academic program under these new limitations.
Please note that these regulations—established through the One Big Beautiful Bill—apply to students who begin their enrollment in the Fall 2026 semester.
Legacy Borrower Status
Parents who borrowed a Parent PLUS Loan prior to July 1, 2026 will be designated as “Legacy Borrowers.”
This status permits continued borrowing up to the student’s Cost of Attendance (COA) and is not subject to the new annual or lifetime caps.
Questions?
If you have any questions regarding these new regulations, please contact the Financial Aid Office at financialaid@maryvillecollege.edu. A member of our team will be happy to assist you.
To complete the PLUS Loan application, go to the https://studentaid.gov/ website. Once there, select the “Parent” tab, select on “Apply for a Parent PLUS Loan” and then log in using your FSA ID and password. Once you are approved for a PLUS Loan, you will need to sign your PLUS Loan MPN electronically with your FSA ID. After you sign your PLUS MPN, electronic notification will be sent to Maryville College. Maryville College will not be able to disburse the Federal Direct PLUS Loan unless the borrower has completed the PLUS MPN and the loan is APPROVED by the U.S. Department of Education.