The Federal Direct Parent Loan for Undergraduate Students (PLUS) lets parents borrow money to pay the education expenses of their dependent student. To be eligible, students must be enrolled in six or more credits each semester, and the parent applicant must pass a credit check. A FAFSA is required.

The interest rate is a fixed 7.08% for loans disbursed on or after 7/1/2019, and before 7/1/2020, both while a student is in college, and during repayment.

The amount that a parent can borrow per year is equal to your total cost of attendance minus the sum of all other financial aid you receive. For example, if your total cost of attendance is $20,000, and you receive $4,000 in other financial aid, your parents could borrow up to, but no more than, $16,000.

To apply for a PLUS Loan:

  1. Submit – or review and revise, if needed – your Penn College Financial Aid Authorization  (FAA);
  2. Complete a FAFSA for the academic year before March 1, Penn College's Priority Application Deadline;
  3. Parent must submit a PLUS Loan Request during June-July, for the fall semester, to initiate a credit check. Your parent will need an FSA ID to sign in to the PLUS Loan Request.
    • The U.S. Department of Education deducts an origination fee of 4.236% (from Oct. 1, 2019 through Sep. 30, 2020) from the loan proceeds at the time of disbursement.
    • If a PLUS Loan is denied due to adverse credit history, your parent will be given information about options for qualifying by obtaining an endorser or submitting documentation about extenuating circumstances, along with instructions for completing the required PLUS Counseling.
    • If your parent knows of his/her credit report issues and does not have an endorser, the PLUS denial stands; you are then eligible to receive an additional Federal Direct Unsubsidized Loan. You must contact the Financial Aid Office to provide a copy of the Plus Loan denial. The amount for which you are eligible is based on the number of credits you have earned toward your program or major.
  4. Parent must complete a Direct PLUS Master Promissory Note (MPN) during June-July, for the fall semester. (Separate MPNs must be submitted for different students in the same family.)

If you are transferring to Penn College from another college, ask your prior college to cancel the next disbursement of your Federal Direct Parent PLUS loan. You parent will need to re-apply for this loan, following the steps above.

Contact information

Pennsylvania College of Technology
DIF 108

One College Avenue
Williamsport, PA 17701

Pennsylvania College of Technology
DIF 119

One College Avenue
Williamsport, PA 17701