<img height="1" width="1" style="display:none" src="https://q.quora.com/_/ad/bdd9d941ae754c498fe2d2326d029ffa/pixel?tag=ViewContent&amp;noscript=1">

Can More than One Parent Borrow a PLUS Loan for the Same Year?

Featured Stories

Filter By Categories

If you are considering obtaining a Parent PLUS Loan to finance your child’s college education, then you may be wondering if more than one parent can receive a PLUS Loan for the same child in the same year. Good news: The answer is yes.

Who is Eligible to Obtain a Parent PLUS Loan?

Parents of dependent undergraduate students are eligible to obtain Parent PLUS Loans. (A child’s dependency status is primarily determined by his or her age, marital status, military involvement, and whether the child has any dependents.)  Eligible parents may be biological, adoptive, or custodial step-parents. If one parent has an adverse credit history, then it may make sense for only the other parent to apply for a PLUS Loan. Learn more about who qualifies for Parent PLUS Loans and what happens if you are denied a Parent PLUS Loan.

What are the Borrowing Limits for Parent PLUS Loans?

The borrowing limits for Parent PLUS Loans are determined on a per-child basis, without regard to how the loans are distributed among eligible parents. The annual per-child borrowing limit for Parent PLUS Loans is equal to the school’s cost of attendance minus any other financial aid that the student receives. (Cost of attendance is calculated by each school separately and includes living expenses and other education-related costs.)  The U.S. Department of Education allows more than one parent to obtain a PLUS Loan for the same child in the same year, and also allows the same parent to obtain multiple PLUS Loans in the same year if the parent has more than one child in college. Parent PLUS borrowers are not subject to Department of Education-specified loan limits, either annually or in aggregate.

Need More Information?

To obtain a Parent PLUS Loan, first you and your child will each need to complete the Free Application for Federal Student Aid, or FAFSA. Every Parent PLUS applicant must submit a FAFSA individually. Learn more about how to apply for federal student loans from the experts at Edmit.

Edmit's advice helps you to be better off after graduation.

  • Merit and financial aid estimates based on your student profile
  • Earnings estimates and financial scores for your college and major
  • Recommendations to save thousands on college

Sign up for updates

Popular Tags

Financial Aid and Scholarships* Cost of College* paying for college financial aid FAFSA Student Loans* grants and scholarships federal student loans Saving for College* Salary and Career* college tuition 529 plan cost of attendance expected family contribution private student loans college financial planning financial aid award taxes career college savings plan room and board on-campus housing merit scholarships budgeting for college college expenses federal financial aid merit-based financial aid private universities public universities edmit hidden gems edmit team college costs parent PLUS loan college applications living expenses CSS profile education expenses financial need income application fees career fit choosing a major financial aid appeal off-campus housing choosing a college college majors loan forgiveness affordable college degree programs loan repayment repayment plans researching careers student loan assistance student loan debt work-study application fee waivers career exploration college search coronavirus edmit scholarship institutional aid net price private scholarships SAT career goals college visits in-state tuition prepaid tuition plans ACT budget free tuition international students internships need-based financial aid need-blind colleges qualified higher education expenses retirement savings school-based scholarships southern colleges standardized testing tuition discount tuition guarantee tuition payment plans 401k UGMA UTMA applying to college college financial health college ranking systems college spending college transfers credit score discretionary income distance learning education savings accounts fees financial literacy full ride scholarship gap year grants health insurance options investment ivy league schools liberal arts degree meal plans midwestern colleges need-aware colleges out-of-state tuition saving state aid tuition increases western colleges 568 presidents group Inversant MEFA asset protection allowance best price campus life college advisor college credits college deposit college viability community college concurrent enrollment cost by region cost by state crowdfunding dorms early decision educational expenses esports fee waivers financial wellness for-profit universities fraternities and sororities full tuition graduate school home equity loan income share agreements job applications line of credit lists medical expenses medical school military benefits net price calculators new england colleges non-profit universities online learning online tuition out-of-state students percent need met private college consultant remote learning self-assessment siblings small business state schools student bank accounts student organizations subsidized loans title IV schools travel expenses tuition decreases tuition insurance tuition reciprocity undocumented students unsubsidized loans work-based learning