Loans are a serious financial obligation and must be repaid. Be sure to look for other forms of financial aid that don't have to be paid back, like grants, scholarships or student employment before accepting loans.

Parent PLUS (Parent Loan for Undergraduate Students) Loans are available that enable birth, adoptive, or step-parents of dependent undergraduate students to borrow.

More information on Federal Direct Parent PLUS Loans.

How to apply for a Federal Direct Parent PLUS Loan

  1. The Parent PLUS Loan is not based on financial need; however, SPC requires completion of the FAFSA (Free Application for Federal Student Aid).
  2. Complete the SPC Federal Direct Parent Loan for Undergraduate Students (PLUS) form.
  3. Complete the Federal Direct PLUS Master Promissory Note. This only needs to be completed once while your student attends St. Petersburg College.
  4. Your student will need to accept the loan in MySPC.
  5. If your student attends less than full-time during any term, the Cost of Attendance and financial aid award amounts will be adjusted. This could result in reduction or removal of loans or other financial aid.
  6. If your student will be graduating at the end of fall term, they will have their Federal Direct Stafford and Federal Direct Parent PLUS loan amounts adjusted based on enrollment during the fall term.

Your loan will be submitted to the National Student Loan Data System (NSLDS) and will be accessible by guaranty agencies, lenders, and schools determined to be authorized users of the data system.

To be considered for a Federal Direct Parent PLUS Loan:

There is a loan fee charged prior to funds being received at SPC.

Interest is charged on Parent PLUS Loans.

How much money can my parents borrow?
Parents may borrow the full yearly Cost of Attendance (as established by Financial Assistance Services) minus all other eligible financial assistance.For example, if the Cost of Attendance is $6,800 and the student receives $4,000 in other financial assistance, your parent(s) could borrow up to, but no more than, $2,800. There is no cumulative borrowing limit.

Parent PLUS Loan

Parent PLUS Loan Denial Options

Parent PLUS Loan Repayment