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Loan Amounts

As a parent borrower you are eligible to borrow up to the student's cost of attendance minus other estimated financial assistance.

For Example:

• Undergraduate Living Away: $27,741
• Other Financial Assistance (grants, loans, etc.): $6,500
• Difference between Cost - Other Financial Assistance: $21,241
• Parent Direct PLUS Origination Fee ($21,241 @ 4.228%): $898

Maximum Direct PLUS Eligibility $22,139

Note: For Direct Parent PLUS Loans disbursed after 07/01/2024 and before 07/01/2025 interest rate is fixed at 9.08%. 

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PLUS Loan Eligibility Requirements

You must meet all the following requirements to be eligible for the Federal Direct Parent PLUS Loan.

1. You are the student's biological or adoptive parent (or in some cases, the stepparent).
2. Your student is determined to be dependent and is enrolled at least half-time at PCC.
3. You have a good credit standing as determined by the U.S. Department of Education loan servicing agency; must not be in default on any federal education loans or owe an overpayment on a federal education grant.
4. You and the student must be U.S. citizens or eligible non-citizens;
5. Your student must have a 2.0 grade point average (cumulative or term at PCC or another higher education transfer institution); demonstrate an ability to benefit from their education (complete units and progress at an acceptable rate) and meet all other federal or state financial aid eligibility requirements.

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Disbursement

At PCC, the Federal Direct PLUS loan funds will be made payable and be disbursed to the student listed on your application.

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Canceling Your Loan

A written PLUS loan cancellation request must be signed and submitted to:

Pasadena City College

Office of Financial Aid

1570 E. Colorado Blvd.
Pasadena, CA 91106

A written request to cancel the loan is always honored and should be submitted to PCC before the check is mailed. The written request must include the name of your student and his/her PCC Lancer ID number and your name with your last four-digits of your social security number.

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Loan Repayment

Repayment of your Federal Direct PLUS Loan begins 60 days after the full amount borrowed in a school year has been disbursed. In most cases, a parent will start loan repayment while the student is still in school. For information about the Federal Direct Plus loan repayment options, visit the Direct PLUS Loans for Parents website or call the Direct Loan Servicing Center at (800) 848-0979 (TTY 1-800-557-7395).

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