Direct PLUS Loans

Direct Parent PLUS loans enable the parents of dependent undergraduate students with good credit histories to borrow up to the student’s cost of attendance, less any other aid received.

The Direct Parent PLUS loan interest rate for all loans disbursed:

  • On or after July 1, 2019 and before July 1, 2020 is 7.08 percent fixed.
  • On or after July 1, 2018 and before July 1, 2019 is 7.60 percent fixed.
  • On or after July 1, 2017 and before July 1, 2018 is 7 percent fixed.
  • On or after July 1, 2016 and before July 1, 2017 is 6.31 percent fixed.  
  • On or after July 1, 2015 through June 30, 2016 is 6.84 percent fixed.
  • View interest rates on Direct Parent PLUS loans disbursed before July 1, 2014 at

Good to know:

  • Only biological, adoptive or step-parents of dependent students can apply for the Direct PLUS Loan. Grandparents, guardians, foster parents or other relatives are not eligible to apply.
  • Dependent undergraduate students must have a completed FAFSA on file before their parent applies for a Direct Parent PLUS loan.
  • Parents must apply by completing an application at the direct lending website:
  • Allow three business days after submitting your application for the Department of Education to notify UTC of your approval or denial. The student's MyMocsNet account will be updated to indicate that the approval or denial has been received.
  • If the Direct Parent PLUS Loan is denied, the student is eligible to receive an additional unsubsidized loan up to $4,000 per year for freshman and sophomore students and up to $5,000 per year for junior and senior level students. The student must complete a year-specific PLUS Denial Form to request the additional funds.
  • If the Direct Parent PLUS Loan is approved, the PLUS Approval Form is required to complete the application. To access this form, the student must sign in with the UTC ID and password, enter phone number and electronically sign. The form will then forward to the parent email to request the loan amount and e-sign. A Direct Parent PLUS Master Promissory Note (MPN) must be completed at the Direct Lending website by the parent if the loan is approved.
  • Funds are released electronically by the Department of Education within seven days of the certification, provided the Department of Education has received all relevant documentation from the borrower.
  • If the Direct Parent PLUS loan exceeds the student's UTC bill, a refund will be issued to the parent or student based on the previous agreement between the borrower and UTC.
  • The student must be making Satisfactory Academic Progress and must be enrolled in a minimum of six credit hours to receive Federal Parent PLUS funds.
  • The Direct Parent PLUS Loan award amount CANNOT exceed the student's cost of attendance minus all other aid.

Students must adhere to all UTC enrollment and Satisfactory Academic Progress standards in order for their parent to be eligible for PLUS loan proceeds.