Federal PLUS Loans

Parent PLUS Loans

Parents can borrow a PLUS loan to help pay educational expenses for their dependent undergraduate students. PLUS loans are available through the William D. Ford federal direct-loan program. Parents must have an acceptable credit history. Prior to applying for a parent PLUS loan, students must complete a FAFSA for the year they are applying for.

Graduate PLUS Loans

Graduate students may be eligible to borrow under the PLUS loan program up to their cost of attendance minus other estimated financial assistance under the William D. Ford federal direct-loan program. Prior to applying for a graduate PLUS loan, students must complete a FAFSA for the year they are applying for and must have applied for their annual loan maximum eligibility under the federal unsubsidized Stafford loan program.

Eligibility Requirements for PLUS Loan Applicants

Students must:

  • be matriculated in a degree program
  • be at least half time
  • maintain good academic standing
  • be a citizen, national or permanent resident alien with a valid social security number; must verify their eligible noncitizen status upon request
  • not be in default on any federal loan borrowed while attending any institution at any time
  • not owe a refund on a federal Pell Grant, FSEOG or federal Perkins Loan (formally NDSL) to any institution
  • comply with selective service registration requirements
  • not be enrolled in overlapping academic terms.

Borrowers must have an acceptable credit history.

Terms and Conditions of PLUS Loans

  • For loans disbursed between July 1, 2019 and June 30, 2020, the interest rate is fixed at 7.08 percent.
  • There is a 4.236 percent origination fee for PLUS loans disbursed after Oct. 1, 2019.
  • Repayment begins 60 days from the last disbursement of the loan.
  • Parents and graduate PLUS borrowers may be able to defer payments while in school; deferment options can be reviewed at the Federal Direct Loan site.

Application Process

Students should always complete a FAFSA first and exhaust their annual maximum Stafford loan eligibility. If then interested in applying for a PLUS loan, the process is as follows:

  • Complete a PLUS loan Master Promissory Note. By doing this, the borrower is giving the Department of Education permission to do a credit check. PLUS borrowers also must complete a PLUS entrance counseling form.
  • Our office receives confirmation within five to seven business days of MPN completion from the Department of Education. We then verify PLUS loan eligibility.
  • Students are notified of either the denial or approval of award.

Contact Us


Fax: 518-580-4863

Mailing Address: 
Empire State College
Financial Aid
111 West Ave.
Saratoga Springs, NY 12866

Questions? Contact the Student Information Center at 518-587-2100 or 800-847-3000.


Code: 010286
Name: SUC Empire State College

TAP Codes

Undergraduate Associate: 0916

Undergraduate Bachelor's: 0913

Graduate: 5680 (for graduate students applying for Veteran Tuition Awards)


If you are attending the spring 2020 term, the deadline to have all financial aid applications, additional financial aid requirements/documents and appeals submitted and any student loans accepted was December 6, 2019 in order ensure the processing of your aid eligibility by the spring payment deadline.

For students planning to enroll beginning in May 2020 or thereafter, the 2020-2021 FAFSA application is now available to complete.

You will need Adobe Acrobat Reader to view the PDF files on this site. If Acrobat Reader is not installed on your computer, you can download it for free from Adobe's site. If you are still unable to view the file, please contact us at financialaid@esc.edu or call 800-847-3000.