A math professor works with a Washburn student on a formula during class.


Loans for Parents

Federal PLUS Loans are available to parents or stepparents with a good credit history to help pay for the education of a dependent undergraduate student who is enrolled at least half-time.

The Federal Direct PLUS Loan is offered under the U.S. Department of Education's Federal Direct Loan program. The U.S. Department of Education the lender for this type of loan.

The Parent PLUS Loan is a loan in which the student's parent or stepparent is the borrower. This loan can be used to assist with the student's educational expenses that are not covered by other financial aid. The Parent PLUS Loan requires a separate application process through https://studentloans.gov. The parent applying must not have adverse credit history or defaulted/discharged student loans of their own.

Washburn University provides estimated Parent PLUS Loans as part of dependent undergraduate students' award offers. The amount included in the award offer is not guaranteed but is meant to reflect the maximum amount a parent could receive in the Parent PLUS Loan, if they choose to apply and are approved for this loan. Parents are not required to request the full amount reflected on the award offer and can enter a smaller amount in the application process.

All loan funds are disbursed in two equal amounts. Funds are disbursed prior to the beginning of each semester and applied to charges on the student’s account. If the amount of the PLUS Loan exceeds the student's remaining balance at Washburn University, a refund check will be issued to the parent borrower. If the parent would rather any excess be issued to the student, they may indicate this on the PLUS application or via signed authorization to the school.

If the parent/stepparent applies for a Parent PLUS Loan and their credit is not approved, Washburn University may be able to offer the student an additional $4,000 in an Unsubsidized Stafford Loan for the academic year.

Interest Rate and Loan Fees

For loans first disbursed on or after 7/1/18 and prior to 7/1/19, the interest rate for the PLUS loan is fixed at 7.595%. The PLUS Loan is also subject to a 4.264% loan fee. This fee is proportionately deducted from the loan each time a disbursement is made. Due to the fact that the Parent PLUS Loan does carry a higher interest rate and loan origination fee than the Federal Direct Subsidized and Unsubsidized Loans for students, we encourage students to utilize those loans first before determining if a Parent PLUS Loan is needed.

Estimated PLUS Loan Amount

The estimated Parent PLUS Loan amount provided in the student's financial aid award offer is determined by subtracting all other financial aid, scholarships and resources offered to the student from their total Cost of Attendance. The Cost of Attendance is not necessarily what a student will pay to go to school, but an estimate of the direct and indirect costs a student may experience for one academic year. 


Cost of Attendance $21,057
Less Academic Scholarship -2,000
Less Federal Student Loans -5,500
Estimated Parent PLUS Loan $13,557

Loan Repayment

Loan repayment for parent/stepparent borrowers begins 60 days after the PLUS Loan has fully disbursed. For example, if requesting a Parent PLUS Loan for the academic year, repayment would begin 60 days after the spring disbursement of the loan. However, the parent/stepparent may request a deferment while the student is enrolled at least half-time (6 or more credit hours) and for an additional six months after the student graduates, leaves school, or drops below half-time. If deferment is requested, payments are not required but interest will continue to accrue and capitalize.

Click here for information regarding loan repayment plans.

How to Apply

  • The student must first complete a Free Application for Federal Student Aid (FAFSA) 
  • The student's award offer must include an estimated Parent PLUS Loan
    • If the award offer does not include an estimated PLUS Loan, the school will not be able to certify a PLUS Loan request.
  • After the student accepts any other available student financial aid, if the parent/stepparent wants to apply for the Parent PLUS Loan, they will do so at https://studentloans.gov
    • Note: PLUS Loan applications cannot be completed until June 1 of the award year the student is attending
  • Once at https://studentloans.gov select Parent Borrowers
  • Select Apply for a PLUS Loan
  • To complete the application, the parent/stepparent must log in using an FSA ID and password
  • After completing the application, select "Complete a Mater Promissory Note" on the home page
    • Complete and submit the "PLUS MPN for Parents"

Complete the FAFSA

When completing the Free Application for Federal Student Aid (FAFSA), please add Washburn University’s federal school code of 001949.

Financial Aid Forecaster

Understand your options for paying for college. Use the FAFSA4caster to estimate your eligibility for federal student aid.