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Dear Parent:

Our office is always concerned with informing both our students and their parents about educational financing opportunities.  The Department of Student Financial Aid would like to take this opportunity to inform you about the Federal Direct Parent Loan for Undergraduate Students (PLUS Loan).   The Federal Direct PLUS Loan is a loan for parents who need assistance paying for all or part of their student's undergraduate education that is not covered by financial aid. 

The Federal Direct PLUS Loan is a cost-effective alternative to using savings, income, retirement accounts or home equity loans to pay for your child's education.  The interest rate on the Federal Direct PLUS Loan, for those with a first disbursement date between 07/01/15 to 06/30/16, is fixed at 6.84% for the life of the loan.  There are no income requirements and no prepayment penalties, but you must complete a credit check to be approved for the loan.  The maximum amount you may borrow equals the total cost of your student's education minus financial aid received.

Your student should have received an email indicating that they have been processed for financial aid with instructions for them to follow to view their award letter, accept/reject their award, and apply for their student loan(s) if applicable all by the web.  In their financial aid award, there is a Federal Direct PLUS Loan listed as possible funds.  You may obtain the maximum amount awarded from your student, who would retrieve it from Web Advisor, a centralized location of information and security protected for their identity safety.

If you are interested in a Federal Direct PLUS Loan, please visit the following website to apply.  http://studentloans.gov

  • You may apply for a PLUS loan, indicate how you would like the excess funds handled, receive decision and e-sign the master promissory note during your visit at StudentLoans.gov website.
  • Beginning March 29, 2015, the Department of Education will require Direct PLUS Loan Counseling to be completed by applicants (by parent of dependent undergraduate students as well as graduate/professional students) who are determined to have an adverse credit history, but qualify for a Direct PLUS Loan by obtaining an endorser or by documenting extenuating circumstances.   NOTE: This requirement is only for new PLUS applications completed on or after March 29, 2015.

If you are not interested in a PLUS Loan and would like to pay the unmet costs with your personal funds, no action is required.  The only thing left for you to do is contact the Office of Student Accounts Receivable at (573) 681-5278 to make your financial arrangements for the remaining balance.

If you have any questions regarding this process or your student's financial aid offer, please do not hesitate to contact our office at (573) 681-6156 option #0.


Alfred Robinson
Director of Student Financial Aid