Redefining the Classroom

Federal Direct Parent PLUS Loan - Promissory Note

If this is your parent's first PLUS Loan, the parent who is taking out the loan must complete the Master Promissory Note (MPN) at

Steps to complete a MPN for a Parent PLUS loan:

  1. The parent taking out loan must sign in to
  2. Select Complete Master Promissory Note from the main menu.
  3. Choose Parent PLUS for the type of loan you would like to receive.
  4. Complete the four steps and click submit.

Please allow 7 - 10 days for the processing of the MPN to be viewable on your Anchor Access account.


The approved loan (less a 4.292% loan origination fee) will disburse into the student's account after all steps are completed.  Please allow 10 days for processing.  Loans will be divided in half, with 50% of the loan disbursing at the beginning of the period and 50% at the mid-point.  For fall/spring loans, one half will disburse in the fall and one half will disburse in January.

Parents may borrow up to the difference between the cost of education and other financial aid for which the student is eligible. The interest rate varies and is based on 91-day treasury bill rates. The interest rate for 2015-16 is 6.84%.


For PLUS loans that are first disbursed on or after July 1, 2008, Parent PLUS borrowers have the option of beginning repayment on the PLUS loan either 60 days after the loan is fully disbursed or not until six months after the dependent student on whose behalf the parent borrowed ceases to be enrolled at least a half time basis. Parent borrowers can select the deferment option during the on-line application or call their loan servicer to request an in-school deferment. The loan servicer will be identified to the parent after the loan has been processed.   Parents can also download a Parent PLUS deferment form at their servicer's website. This should be done AFTER the first half of the loan has disbursed to the student's account.

Due to the processing time, loan requests can not be honored during the last two weeks of the semester. Please submit any requests for alternative or direct loans to the LSSU Financial Aid Office before the last two weeks of the semester.