A Federal Direct Parent PLUS Loan may be an option for families who need to borrow more than the Federal Direct Loan limits.  This loan has a fixed rate of 7.9% with a 2.5% fee which will be deducted from the proceeds that are sent to the school.

Eligibility is limited to the cost of attendance minus any other financial aid the student is receiving.  Because the funding for Federal Direct PLUS loans come straight from the US Department of Education, students and parents do not have to find a lender to borrow through this program.  Please disregard any offers you may receive about the Federal PLUS Loan program offered through private lenders.  Since Bethany Lutheran College is a Federal Direct Lending institution, you may not use a private lender to apply for a Federal PLUS loan.

Denial of an application for the Federal Direct PLUS loan may make the student eligible to borrow an additional amount of Federal Unsubsidized Direct Loan.

Reduction or cancellation of the Federal Direct PLUS loan can be requested by the parent borrower.  Please contact the financial aid office.

To apply for a Federal Direct Parent PLUS Loan, please complete the Federal Direct Parent PLUS Application Credit Authorization ( [VIEW]) and send this form to the financial aid office.  Then complete a Master Promissory Note  (MPN) ONLY IF YOU HAVE NOT COMPLETED A FEDERAL DIRECT PLUS MPN FOR THIS STUDENT BEFORE. You will need your U.S. Department of Education PIN to sign your MPN electronically.  After you sign your PLUS MPN, electronic notification will be sent to Bethany Lutheran College.