Federal PLUS Loans

Federal Direct PLUS Loans are funds that may be borrowed by graduate or professional students and parents.  The maximum PLUS loan amount you can borrow is the cost of attendance, as determined by Robert Morris University, minus any other financial assistance received.  Both loans require a completed Free Application for Federal Student Aid (FAFSA) in addition to the application described below.

Graduate PLUS loan

To qualify, you must be enrolled on at least a half-time basis and be in good academic standing according to the Federal Financial Aid Satisfactory Academic Progress Policy at the time of application.  To apply for a PLUS Loan, please click here.  

After completing the Master Promissory Note (MPN) for the first Plus Loan, a new promissory note will not be required for your subsequent years of enrollment at RMU. However, you must initiate a new credit approval and request an updated loan amount each academic year.

Parent PLUS loan

Creditworthy parent(s)* may borrow PLUS loan funds for a dependent, undergraduate student. The student must be enrolled on at least a half-time basis and be in good academic standing according to the Federal Financial Aid Satisfactory Academic Progress Policy at the time of application.

Apply For PLUS Loan  Parent PLUS Loan  Endorse Parent or Grad PLUS Loan

After completing the Master Promissory Note (MPN) for the first Plus Loan, a new promissory note will not be required for the student's subsequent years of enrollment at RMU. However, the parent must initiate a new credit approval and request an updated loan amount each academic year.

*Note: If a parent is deemed ineligible to borrow funds under the PLUS Loan program, the student may request to borrow additional Federal Direct Loan funds. These additional loans are always unsubsidized and can total up to $4,000 for the first and second years of study and $5,000 for the third and fourth years of study.

Loan Fee and Interest rate

The loan fee and interest rate are the same for Graduate and Parent PLUS loans.  The current origination fee is 4.228%. The interest rate for 2023-24 is 8.00%.  Please note, the origination fee is deducted from the loan amount before it is applied to the student's account.  

Loan Repayment

Your Direct PLUS Loan enters repayment once your loan is fully disbursed. However, if you are a graduate or professional student, your loan will be placed into deferment while you are enrolled at least half-time and for an additional six months after you cease to be enrolled at least half-time. 

If you are a parent borrower, you may contact your loan servicer to request a deferment

• while you or your child are enrolled at least half-time and
• for an additional six months after your child ceases to be enrolled at least half-time.

If your loan is deferred, interest will accrue on the loan during the deferment. You may choose to pay the accrued interest or allow the interest to capitalize when the deferment period ends. Your loan servicer will notify you when your first payment is due.