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Federal Direct Parent Loan

The Federal Direct Parent Loan for Undergraduate Students, often called PLUS, is a non-need based, fixed interest rate loan for the parents of dependent students. Loan amounts are limited by the institutional budget minus other financial aid. It offers a 7.21% fixed interest rate as of 7/1/14 on the loan and a 4.288% loan fee (4.292% effective 10/1/14) deducted from each disbursement. Repayment begins 60 days after the loan is fully disbursed and cannot be transferred into the student's name. The parent borrower must repay the loan.

Students are required to meet Satisfactory Academic Progress and maintain half-time enrollment.

Obtaining a PLUS loan

After completing the FAFSA and BSU Financial Aid application, the student will be notified via email when their official award notice is available online. The parent can then complete the PLUS Electronic Master Promissory Note and online Direct PLUS application which are available at  You will need to use the PIN and social security number of the parent applying for the loan to sign in.

A credit check will be conducted prior to approval of the loan.

Receiving PLUS funds

PLUS loan funds are disbursed at the beginning of each semester and credited to your student's account.  Any remaining balance will be issued according to your instructions on the online Direct PLUS application.

Once a parent has completed a Master Promissory Note for the student all subsequent PLUS loans will only require the online Direct PLUS application.


The Federal Direct PLUS loan will enter repayment 60 days after the final disbursement. All repayment and deferment questions can be answered by the Direct Loan Servicing Center at 1-(800)-848-0979. Parents may complete a PLUS Loan Student In-school Deferment Form each semester to defer payment by following the link and selecting "Managing Repayment" and "Trouble Making Your Payments". Return the In-School Deferment Form for PLUS loans to the BSU Records Office for enrollment verification.

Loan Reporting

PLUS Loan information will be submitted to the National Student Loan Data System and will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system.

Return all forms to:

Bemidji State University
1500 Birchmont DR NE, #14
Bemidji, MN 56601