Federal Direct Parent Loan for Undergraduate Students (PLUS)

The application process is completed by the parent on the web at studentloans.gov. You will need your FAFSA pin to begin this process.

Parents may borrow up to the cost of attendance minus any other aid received by the student annually.


Interest Rate for the PLUS loan is 7.54% for the 2022-23 academic year.


All PLUS loans are subject to fees of 4.228% that are withheld from the amount received. Fees are deducted from the loan servicer at the time funds are disbursed to the school.


After the PLUS loan has been approved and is ready to disburse, it will be disbursed in two equal installments. Half in the fall and half in the spring.


Repayment begins within 60 days after the loan funds for the year are fully disbursed (with 60 days after the second disbursement). Parents may request a deferment under the deferment option through the application process.

  • Available to parents who have a dependent child enrolled in college.
  • Parent must not have an adverse credit history.
  • Must be a U.S. citizen, permanent resident or other eligible non-citizen.
  • Unsecured loan, not based on family income.
  • Master Promissory Note allows for added borrowing without signing a new note.
  • Easy application and convenient in-school processing for quick disbursement.
  • Loans range up to the total cost of education less other financial aid received.
  • PLUS loans are federally insured, loan forgiveness is available in the event the parent borrower becomes totally and permanently disabled, or if either the parent or student dies.
  • Flexible repayment options are available.
  • Interest paid on PLUS loans may be tax deductible.
  • Standard repayment up to 10 years with extended repayments options.
  • Able to consolidate with other PLUS loans to a low fixed rate


For questions regarding the PLUS loan, please contact Donna Newendorp at 641-628-5187.


Donna Newendorp
Donna Newendorp

Associate Director of Financial Aid

Making the Turn

For Cole McGriff ’24, the combination of academics, values and activities, along with being closer to home, made Central the right choice for his college experience.

Read More

Request Information


We're excited you're interested in Central!

Submit your request and we’ll make sure you don’t miss any information about campus visit events, scholarship opportunities and more.

Request Info


This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.