Parent PLUS Loans
Federal Parent PLUS Loan government origination fees and interest rates vary each academic school year:
Federal Parent PLUS Loans will have new origination fees and interest rates that vary each academic year. To find the most recent and up to date released rates please visit studentaid.gov and find PLUS Loans under the Loans and Grants dropwdown, or contact our financial aid office via email directly at finaid@messiah.edu. The financial aid office is open between the hours of 8.30 AM and 4.30 PM Monday through Friday.
How do I apply for a Federal Parent PLUS Loan?
To apply for a Federal Parent PLUS loan please go to https://studentaid.gov/plus-app/.
When deciding on the Federal Parent PLUS loan amount you apply for, please take into consideration the most recent government origination fee when making your calculation.
As an example, for the 2024/2025 academic year: If you were to apply for a $6000 Federal Parent PLUS Loan using the origination fee of 4.228%, the net amount disbursed would be $5746 to the students account for payment on the student billing.
How is payment of the Federal Parent PLUS Loan received at Messiah University?
The Federal Parent PLUS loan funds are electronically wired to Messiah University for direct payment into the student's account. A parent/student will NOT receive the payment first and need to provide payment to Messiah University.
If you have any questions or problems with the Federal Parent PLUS loan application while applying on line at https://studentaid.gov/plus-app/, please contact Direct Loans at 1.800.848.0979.
What are the Terms and Conditions of a Federal PLUS Loan?
1. Fixed interest rates are determined each year by the federal government and again can be found
at https://studentaid.gov/understand-aid/types/loans/interest-rates or by contacting our financial aid office via
email at finaid@messiah.edu.
2. Government origination fees are determined each year by the federal government and again can be
found at https://studentaid.gov/understand-aid/types/loans/interest-rates or by contacting our financial aid office
via email at finaid@messiah.edu.
3. Repayment:
· Will begin 60 days after final disbursement is made, or
· Payments can be deferred while student is enrolled at least half-time.
· RENEW the deferral each year by contacting Direct Loan Servicing @ 1.800.848.0979.
· You can make interest only payments during deferment, if you choose.
· Standard Repayment term is 10 years.
4. After the Federal Parent PLUS loan has been approved by Direct Loans, a Disclosure Statement from the
William D. Ford Federal Direct Loan Program will be mailed to the borrower at the address on the Federal Parent
PLUS loan application. This statement details all of the terms and conditions of the Federal Parent PLUS loan.
How does a Federal PLUS loan compare to a Private/ Alternative loan?
If you are not sure whether to take a Parent PLUS or an alternative/private student loan, please review this comparison worksheet, and this federal site https://studentaid.gov/understand-aid/types/loans/federal-vs-private.
Learn more about Federal Direct Loans by going to studentaid.gov.
Are there any other Parent Loans?
Yes, there are other parent loans available through private lenders. For more information, please feel free to utilize the information on our private loans page.
If you have any other questions in regards to the PLUS loan, please feel free to contact the Financial Aid Office at 1.717.691.6007 or email finaid@messiah.edu.