Info for Families

Direct PLUS Loan

All parents and legal guardians are eligible to apply for the PLUS Loan, regardless of income. Qualifying for a PLUS Loan is based solely on good credit and there are no debt-to-income ratio guidelines or employment verification requirements.

  • Loan Amounts: Parents may borrow up to the total cost of attendance for the year, minus any other financial aid that the student receives. The total cost of attendance includes tuition and fees, room and board, books and supplies, transportation, and personal expenses.
  • Fees: The interest rate for Direct PLUS loan is shown below. 

    Direct PLUS fees interest rate origination fee
    2013-2014 7.9% 4.204%

How to Apply:

  1. Apply for a Federal PIN (if you do not already have one). You can apply for a Federal PIN by visiting  
  2. Apply for a Federal Direct Parent PLUS Loan (once you receive your Federal PIN) by visiting
    1.  Log into "Manage My Direct Loans" (located in the upper left corner).
    2. Click on Start PLUS Application Process.
    3. Click Parent PLUS icon.
    4. Complete and submit your application.
  3. Complete your Federal Direct Parent PLUS Loan MPN (Master Promissory Note) by visiting
    1.  Log into "Manage My Direct Loans" (located in the upper left corner).
    2. Click on Complete Master Promissory Note.
    3. Click Parent PLUS icon and follow the directions to complete your Parent PLUS Loan Master Promissory Note (MPN).


The MEFA loan is a family loan through the Massachusetts Educational Financing Authority. For more information about this loan, visit MEFA's website

Wells Fargo Student Loan for Parents

Please visit the Wells Fargo website for more information.

Monthly Payment Plan

If you plan to use your savings and/or current income to cover all or part of your educational expenses, the interest-free monthly payment option offered through Tuition Management Systems (TMS) helps by providing more manageable cash flow and greater budget flexibility. Instead of lump-sum payments, the TMS plan allows you to pay all or part of your education expenses in manageable monthly installments. You may use the TMS plan to pay the balance after financial aid or in combination with other loans. By enrolling in the TMS Monthly Payment Plan, the student account will receive a credit each semester representing half of the full amount of your contract. We will credit the student account in advance of your making all of your payments to TMS. Although Student Financial Services can provide assistance, you are responsible for determining the contract amount. TMS is not responsible for this decision and will make changes only upon your request. The toll free number is 800.722.4867 (if calling from outside of the United States, please use 401.849.1550) or you may visit their website at