Financial Aid

The Office of Financial Aid      

Parent eligibility requirements for a Direct PLUS Loan:

You must be the student's biological or adoptive parent or the student's stepparent, if the biological or adoptive parent has remarried at the time of application. Your child must be a dependent student who is enrolled at least half-time at a school that participates in the Direct Loan Program. For financial aid purposes, a student is considered "dependent" if he or she is under 24, unmarried, and has no legal dependents at the time the Free Application for Federal Student Aid is submitted. (Exceptions are made for veterans, wards of court, and other special circumstances.) If a student is considered dependent, then the income and the assets of the parent have to be reported on the FAFSA.

Additional requirements to receive a PLUS loan:
Parent PLUS loan borrowers cannot have an adverse credit history. If upon completion of the credit check, the parent is denied, the parent can appeal the denial by going to and documenting extenuating circumstances or by obtaining an endorser. If then approved, the parent must complete PLUS Loan Counseling before the loan is disbursed. In addition, parents and their dependent child must be U.S. citizens or eligible noncitizens, must not be in default on any federal education loans or owe an overpayment on a federal education grant, and must meet other general eligibility requirements for the Federal Student Aid programs. You can find more information about these requirements in Funding Education Beyond High School: The Guide to Federal Student Aid.

Loan limits, interest rate, and loan charges:

There are no set limits for Direct PLUS Loans, but you may not borrow more than the cost of your child's education minus any other financial aid received, such as a Direct Subsidized or Unsubsidized Loan. The school will determine the actual amount you may borrow.

The current interest rate as of the last update of this page (July 1, 2015) for Direct PLUS Loans is a fixed rate of 6.84%. Interest is charged on Direct PLUS Loans during all periods, beginning on the date of your loan's first disbursement. To find out more information on interest rates for Direct PLUS Loans, contact your loan servicer.

In addition to interest, you pay a loan origination fee that is a percentage of the principal amount of each Direct PLUS Loan that you receive. This fee helps reduce the cost of making these low-interest loans. We deduct the fee before you receive any loan money, so the loan amount you actually receive will be less than the amount you have to repay. The current origination fee as of the last update of this page (July 1, 2015) for Direct PLUS Loans is 4.272%.

Dependent students whose parents have applied for but were unable to get a PLUS Loan are eligible to receive additional Direct Unsubsidized Loan funds.


There is no grace period for a Direct PLUS Loan—the repayment period begins 60 days after your school makes the last disbursement of the loan. However, if you're a parent PLUS borrower who is also a student, you can defer repayment while you're enrolled in school at least half time and (for Direct PLUS Loans first disbursed on or after July 1, 2008) for an additional 6 months after you graduate or drop below half-time enrollment.

If you're a parent PLUS borrower, you can defer repayment of Direct PLUS Loans first disbursed on or after July 1, 2008, while the student for whom you obtained the loan is enrolled at least half time, and for an additional 6 months after the student graduates or drops below half-time enrollment (half-time enrollment status is determined by your child's school). You must separately request each deferment period.

Applying for a Parent PLUS Loan:

In order for a PLUS loan to be processed, the consent of the parent borrower is required. The Consent to Obtain Credit Report, which can be downloaded from the link below is to be completed by the parent of the student who wishes to apply for a PLUS loan. A CCSJ Financial Aid staff member will then process the credit check through the Federal Direct Loan website. Credit check approval is a requirement of the Federal Direct PLUS Loan process.

The Federal Direct PLUS loan application form is to be completed by both the student and the parent. The purpose of this form is for the parent to indicate the amount of the loan requested and the academic period for which the loan will be used. If you are unsure of the amount of the loan that you will need, contact the CCSJ Office of Financial Aid at 219-473-4296.

Mail both completed forms to:

Calumet College of St. Joseph
Office of Financial Aid
2400 New York Ave.
Whiting, IN 46394

Or fax to: 219- 473-4340

If your PLUS loan has been approved, the parent requesting the loan must complete the PLUS Master Promissory Note (MPN). If your PLUS loan was approved after documenting extenuating circumstances or by obtaining an endorser, you must complete both the MPN and the PLUS loan counseling.

Denied for a Parent PLUS Loan:

If the parent PLUS loan is denied, the undergraduate student can then qualify for additional unsubsidized federal student loans by requesting the additional funds from the Office of Financial Aid.


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Contact Information Office of Financial Aid

Monday, Thursday, Friday: 8:30 A.M. - 5:00 P.M.
Tuesday, Wednesday: 8:30 A.M. - 7:00 P.M.

Summer Hours (June and July):
Monday, Tuesday, Thursday, Friday: 8:30 A.M. - 5:00 P.M.
Wednesday: 8:30 A.M. - 7:00 P.M.

Room: 120
Telephone: (219) 473-4296 (Indiana)
                      (773) 721-0202, Ext. 296 (Illinois)
                      1-877-700-9100 (Toll Free)
FAX: (219) 473-4340