PLUS Loans

Federal  Direct Parent PLUS Loan

PLUS Loans are federally guaranteed loans that parents may obtain to help pay for the cost of education for their dependent student. Certain credit conditions apply, and a credit check is required. PLUS Loan funds are first applied to the student's account balance due at Western, and any PLUS Loan funds left over after the student's balance is paid will be mailed directly to the PARENT. Students must be taking at least six (6) credits in order for a parent to receive PLUS loan.

If a PLUS Loan application is denied due to adverse credit, loan counseling can be completed to override the credit decision. Parents will be made aware of this at the time the Master Promissory Note (MPN) is completed. If the parent chooses to NOT complete the additional loan counseling, then the student borrower can choose to have an additional Unsubsidized Loan amount added to their awards. Please contact Financial Aid Resources and Planning Services at 608-785-9579 for more information.

PLUS Loan To Do List

1. Student: Complete entire Financial Aid Process (PDF).
2. Parent: Complete the 2026-2027 Parent PLUS Loan Application (PDF) and return to Financial Aid Resources and Planning Services.
3. Parent: Complete Master Promissory Note (MPN).
4. Student: If PLUS loan is denied, contact Financial Aid Resources and Planning Services.
5. Parent: If you would like to defer PLUS loan payments, please fill out the Parent PLUS Borrower Deferment Request Form (PDF).
6. Student: Check your Western e-mail account for important messages.
7. Student: Check your MyWestern account to ensure the PLUS Loan has been added to your awards.

Interest Rates

2025-2026 Rates

• PLUS loan interest rate is fixed at 8.94% (effective July 1, 2025-June 30, 2026)
• Origination fee is 4.228% (effective October 1, 2020)

Repayment

• The amount of time to repay the PLUS Loan depends on the amount of funds that were received and the type of repayment plan that was selected.
• Length of repayment typically is between 10 and 25 years.
• Loan Payment Calculator

Maximum PLUS Loan Amounts

Maximum PLUS loan amounts are based on the following calculation:

Student's Cost of Attendance
- Other Student Aid Received
= Maximum PLUS loan amount

New borrowers will have an annual limit of $20,000 and an aggregate limit of $65,000 per dependent student.