Parent Loan

The Parent PLUS Loan is a loan parents may borrow on behalf of their dependent student.  The federal government defines a parent as a natural or adoptive mother or father, or legal guardian (which may include a stepparent).  This funding is through the federal government and the student must have a completed FAFSA on file.  Students must be making Satisfactory Progress with NMU and enrolled at least half time (6 credit hours per semester).  The Parent PLUS Loan has a 5.30% fixed interest rate for loans disbursed between July 1, 2020 and June 30, 2021.  The amount requested will be limited by cost of attendance limits minus all other aid received. In order to apply for a Parent PLUS loan a parent must have a Federal Student Aid ID (FSA ID).  If a parent does not have a FSA ID or does not remember their FSA ID, please visit to either apply or request a duplicate.

Additional information, as well as a link to the electronic PLUS Loan Application, can be accessed through the links below:

PLEASE NOTE that any information relating to the "borrower" on the application and Master Promissory Note are asking for parent information NOT student information.

If the parent is approved, he/she will need to complete an electronic Master Promissory Note at


If the parent is denied, and the student wishes to request addition funding, please refer to for more information on the process and on loan limits.  These students would be eligible to borrow at the Independent Additional Unsubsidized Loan amount.

For questions on credit decisions, credit appeals, or endorser related questions, please contact Direct Loan Applicant Services at 1-800-557-7394.  For question on the servicing of your loan, please contact Direct Loan Servicing at 1-800-4-FED-AID (1-800-433-3243).

If you need to make reduced or no payments while your student is in school at least half time, please contact your loan servicer at to view different repayment options.

Graduate and professional students seeking additional loan funding may also apply for a Grad PLUS Loan.  This loan is at a fixed 5.30% interest rate for loans disbursed between July 1, 2020 and June 30, 2021.  While this rate is higher than a graduate student's Direct Loans, it is typically lower than a private, alternative loan.

Students interested in applying for this loan should stop by the Financial Aid Office to discuss this option and see if it is relevant to them.