Student Financial Services
PLUS Loans Application Process
Apply for a PLUS Loan
Eligibility
The borrower must either be a Graduate/Professional student borrowing for their own educational expenses, or a parent borrowing for their dependent undergraduate student's educational expenses. The student and parent must be a U.S. Citizen or eligible non-citizen, not have an adverse credit history, and not be in default on any prior educational loans. In addition, the student must be enrolled at least half-time in a degree program, and making satisfactory academic progress.
Timing
- Apply for a PLUS Loan after May 1st for the upcoming academic year (be careful to select the correct academic year when applying)
- Your completed PLUS Loan application is automatically sent to Brown University and we begin processing incoming PLUS Loan applications in mid-June.
- The credit decision is valid for 180 days and must still be in effect at the time of first disbursement.
Amount
Apply for an amount to cover expenses for the full year vs a single semester. The annual tuition and fee expenses are typically split evenly between the fall and spring semesters. The exception is the Student Health Insurance Plan which is typically billed in the fall for the annual rate.
- The maximum PLUS Loan amount that may be requested is equal to the student's Cost of Attendance minus any other anticipated financial assistance.
- Estimate your education expenses using the information on our Tuition & Fees pages.
- The total loan amount is reduced by the amount of the origination fee, meaning the amount disbursed to the student account will be less than the total loan amount requested.
Need to decrease your loan? Send a detailed email to our team.
To increase an existing loan, complete a new PLUS application for the new total amount. Note, this may result in a new credit check.
If you are requesting less than the maximum, you may choose to add the amount of the origination fee to your requested loan amount.
- To include the origination fee in your requested loan amount, determine how much you need to cover your expenses (net amount) and divide that amount by .9577.
- Note: The origination fee is set annually and applies to loans first disbursed after October 1st each year.
- Example: To receive a net amount of $5,000 applied toward your student account, divide $5,000 by .9577 for a total loan request of $5,221.
Application Process
The Free Application for Federal Student Aid (FAFSA) is required and must be completed before any PLUS Loans can be processed (Parent or Graduate/Professional).
In addition to the FAFSA, all of the following must be completed.
- PLUS Loan Application for Parents
- PLUS Master Promissory Note for Parents (Must use your own FSA ID to login, not your student's)
- Title IV Authorization Form to instruct Brown University on how to apply your federal funds toward charges on your student's account. This MUST be completed by the PLUS Loan borrower.
- Parents who are initially denied and later approved, must also complete the PLUS Loan Credit Counseling.
Your completed PLUS Application and completed loan requirements will be sent electronically from the U.S. Department of Education to Brown's Student Financial Services.
In addition to the FAFSA, all of the following must be completed.
- Apply for AND accept your maximum Unsubsidized Loan (required before PLUS will be processed.
- PLUS Loan Application for Graduate/Professional Students
- Grad PLUS Master Promissory Note
- Grad PLUS Entrance Counseling
- If you are initially denied and later approved, you must also complete the PLUS Loan Credit Counseling.
Your completed PLUS Application and completed loan requirements will be sent electronically from the U.S. Department of Education to Brown's Student Financial Services.
Adverse Credit History
A credit check will be performed by the Department of Education during the application process. Brown University only receives the credit decision (approval or denial) and we do not have access to any details regarding borrowers credit history or the reason for the credit decision. If you have an adverse credit history and receive a credit decision denial, you may still receive a PLUS loan.
You may still receive a PLUS loan through one of these two options:
-
Obtaining an endorser who does not have an adverse credit history. An endorser is someone who agrees to repay the PLUS loan if you do not repay it. The endorser cannot be the child on whose behalf you are borrowing.
-
Documenting to the satisfaction of the U.S. Department of Education that there are extenuating circumstances relating to your adverse credit history.
With either option 1 or option 2, you also must complete credit counseling for PLUS loan borrowers. You may also wish to read this article to learn more about what to do if you are denied a PLUS loan based on an adverse credit history.
Parents: If you are unable to obtain a parent PLUS loan, your child may be eligible for additional unsubsidized loans. Contact the Office of Financial Aid for more information.
Graduate/Professional Students: The credit counseling is separate from the entrance counseling that is required for Graduate/Professional Student borrowers and does not satisfy the entrance counseling requirement in any way.
Loan Details
Federal loans refer to financial aid programs offered by the United States Department of Education to help students and their families cover the costs of higher education.
Loan Repayment
Use the Loan Simulator to estimate your monthly payment amount.
If you're a new borrower, been in school for a while, graduating soon, or a Brown alum, there are steps you can take to be successful in your loan repayment.