The Federal Direct Parent Loan for Undergraduate Students (PLUS) program is available to parents of dependent, undergraduate students.  The PLUS loan borrower is the parent.  The maximum PLUS loan amount is dependent upon your student’s cost of attendance and other aid resources.

The Interest Rate on the PLUS Loan Program is variable and changes each July 1st.   In addition to interest, the borrower must pay loan origination fees.

The PLUS Loan Program does not have a grace period.  The repayment for a Federal PLUS loan usually begins 60 days after the loan is fully disbursed.  Several deferment options are available for the PLUS loan.

National Student Loan Data System (NSLDS) Disclosure:

RCTC is required to disclose to all potential students, students, or parents of a student who is entering into a Title IV, Higher Education Act loan, that the loan will be submitted to the National Student Loan Data System (NSLDS), and will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system. For more information about managing loans and how your information will be utilized by the Department of Education and its loan servicers, visit

See the Loan Comparison Chart for more information about the PLUS Loan Program.

How do I apply for a PLUS loan?

Your student must have a Free Application for Federal Student Aid (FAFSA) on file with the RCTC Financial Aid Office. As a parent borrower, you will then apply for PLUS loans at RCTC via the web, following these steps:

  1. STEP 1: Complete the online request for the Parent PLUS Loan. Select the blue “SIGN IN” box. You must have your FSA ID username and password available so you can sign this document electronically.
  2. STEP 2: Complete your online Master Promissory Note (MPN) for the PLUS Loan. Select “I’m a parent of an Undergraduate Student” and log in to begin this process.
  3. STEP 3: Complete the PLUS Loan Request Form.  After you have completed your online PLUS MPN, you should print and complete the corresponding RCTC PLUS loan request form and return it to RCTC’s Financial Aid Office.

What happens after I apply?

The Financial Aid Office will electronically certify your PLUS loan based on your student’s eligibility and the information you provided on your request form and/or your Master Promissory Note (MPN).  Upon approval, you will receive a Disclosure Statement from the U. S. Department of Education. The disclosure statement shows the amount of your loan, interest rate, planned disbursement dates, the actual disbursement amounts after loan fees and also includes information on how to contact the Department of Education. If you do not receive your Disclosure Statement within 10 days of completing the steps listed above, please review your loan account at or contact the RCTC Financial Aid Office at

When PLUS Loan funds arrive on campus, they will be posted to your student’s RCTC account and applied to outstanding tuition, fees and other authorized charges. If your PLUS loan more than covers these items, the remaining funds will be given to your student through our normal Financial Aid disbursement process. If you do NOT want your excess PLUS funds to be released to your student, you must notify the RCTC Financial Aid Office, in writing, a minimum of 2 weeks prior to the date of disbursement. 

For more information about PLUS loans, or if you have questions relating to approval, disbursement and/or the status of your loan please contact the RCTC Financial Aid Office for assistance. We can be reached by email or by phone at (507) 285-7271.