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Often, the Direct Loans, scholarships and other aid awarded is not enough to cover a student’s educational costs. A popular option for parents to help pay for their student’s education is a Federal Direct Parent PLUS Direct Loan. This is a loan to parents of eligible dependent students from the U.S. Department of Education.

You can borrow up to the full cost of attendance less any other aid awarded. For example, if your student’s cost of attendance is $40,000, and your student has been awarded $10,000 in aid, you can borrow up to $30,000. For summer 2016, you will use eLion to apply for a PLUS Loan. This process will change beginning with the fall 2016/spring 2017 semesters. Starting in June, you can apply for fall 2016 and spring 2017 Parent PLUS Loans from studentloans.gov. See the links below for detailed information on how to apply for Parent PLUS Loans.

General information on Parent PLUS Loans:

• http://studentaid.psu.edu/types-of-aid/loans/parent-PLUS

PLUS Loan information from Federal Student Aid:

• https://studentaid.ed.gov/sa/types/loans/plus

How to Apply for the Parent PLUS Loan (Summer 2016 only):

• http://studentaid.psu.edu/summer-2016/apply-parent-PLUS

How much of the Parent PLUS Loan should I borrow? (summer 2016 only):

• http://studentaid.psu.edu/summer-2016/how-much-parent-PLUS-borrow