Direct Parent PLUS Loans are unsubsidized federal loans for the parents of dependent students. These loans allow parents to fill the gap between the overall cost of attendance and existing student financial aid.
In order to fill out the online Parent PLUS loan application and sign the master promissory note, the parent must have a Department of Education PIN. If the parent does not have a PIN number, one must be obtained at www.pin.ed.gov before completing the online application.
The Department of Education's PLUS Application site combines the Federal Direct Parent PLUS Loan application and Master Promissory Note under one process. Please apply at least 30 days before the bill due date to ensure timely processing of the loan.
Note: If the parent borrower elects to have excess funds refunded to them, a paper check will be mailed to the parent. Choosing to have excess funds refunded to the student allows access to the funds 5-10 days sooner with direct deposit into the bank account listed on Hokie Spa.
After the PLUS Loan is approved by Direct Loans, Virginia Tech takes additional steps to certify the loan amount, and to disburse it toward the student's tuition, fees, on-campus housing and on-campus meal plan. Excess funds will be refunded, either to the parent or student as designated.