Dependent Student Financial Aid

Federal Direct Parent Loan for Undergraduate Students (FPLUS)
PLUS loans are made to parents of dependent students by the US Department of Education through the Federal Direct Loan Program. The interest rate is fixed at 7.9%

A parent may borrow up to the difference between the student's educational costs and other financial aid the student receives for each academic year. An origination fee (up to three percent) may be deducted from the amount borrowed.

Repayment of a PLUS loan
Repayment of a PLUS loan begins within 60 days after the loan is fully disbursed.

Disbursement Process
Loans will be paid to the students’ accounts at the beginning of each quarter after they are approved by the Direct Loan servicing center.

South University financial aid officers are available to help you with any questions you or your family may have about FPLUS loans.

Getting started
Lenders will require a credit evaluation to determine a parent's eligibility for a PLUS loan. The Financial aid office will assist your parent with this process.

To apply for a PLUS loan, parents must request a Department of Education PIN and complete an online FAFSA form.

You can request a Department of Education PIN online at http://www.pin.ed.gov.

You can access the FAFSA form online at http://www.fafsa.ed.gov. 

Do you have more financial aid questions? Visit the Financial Aid FAQ page or request more information here.

The South University Virginia Beach campus is not yet approved for financial aid; approval is expected in spring 2010. Contact the Financial Aid office at the Virginia Beach campus for more information.