Direct PLUS Loans

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

The Direct PLUS loan interest rate for all loans disbursed:

*on or after July 1, 2018 and before July 1, 2019 is 7.60% fixed.

*on or after July 1, 2017 and before July 1, 2018 is 7% fixed.                                                                                                              

*on or after July 1, 2016 and before July 1, 2017 is 6.31% fixed.

*on or after July 1, 2015 through June 30, 2016 is 6.84% fixed.

For interest rates on Direct PLUS loans disbursed before July 1, 2014 go to

Direct PLUS Loan interest begins at the time the first disbursement is made and repayment begins within 60 days after the loan is fully disbursed.  The Direct PLUS loan has loan fees that are deducted proportionately from each loan disbursement received.  This means the amount received will be less than the amount actually borrowed.  

We recommend completing the PLUS application April 1 or after to ensure that the PLUS Loan credit check remains valid through the August disbursement date. 

Direct PLUS Loans - please note the following:

  • Only biological, adoptive, or step-parents of dependent students may 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 PLUS loan.

  • Parents must apply by completing an application at the direct lending website-

  • Allow 3 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 PLUS Loan is denied, the student is eligible to receive an additional unsubsidized loan up to $4000 per year for freshman and sophomore students and up to $5000 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 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 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 7 days of the certification, provided the Department of Education has received all relevant documentation from the borrower.

  • If the Direct 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 6 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.