The Federal Parent Loans for Undergraduate Students (PLUS) is a loan program available to parents of dependent students, regardless of financial need. Parents can use a PLUS loan to bridge the gap between the cost of their child’s education and the amount of other financial aid they receive.

Tax Benefits: Interest paid on a PLUS loan may be tax deductible, depending upon the parent’s income.

Interest Rate: PLUS loans allow you to lock in a low, fixed interest rate of 8.5% for the life of the loan.

Repayment: Repayment begins 60 days after the loan is fully disbursed to the student’s account, and is spread over 10 years.

Fees: Besides interest, you may be charged origination and federal default fees on your PLUS loan. Combined, these fees range from 0 to 4% and are deducted from the loan amount prior to disbursement.

How to Apply: Parents who wish to borrow under the PLUS program can find the application on the Forms page or by clicking here(PDF) after their student has received the financial aid award letter.

You will then receive a Master Promissory Note from Great Lakes Higher Education, if they don’t already have one on file. Once you complete the application, we will certify your loan and you will then receive your Master Promissory Note in the mail from Great Lakes Higher Education. Remember that these loans are subject to a creditworthiness evaluation to be completed by your chosen lender and won’t be done until they have the promissory note on file.

Contact Information:
Financial Aid Office
Ponzio Campus Center
1411 Ellis Avenue
Ashland, WI 54806

Email: finaid@northland.edu
Toll Free: 866-781-0001
Phone: 715-682-1255
Fax: 715-682-1308