The Parent Loan for Undergraduate Students (PLUS) is a federal loan that parents of dependent undergraduate students or graduate students can borrow to help cover college/university expenses.

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Details

  • available to parents or graduate/professional degree students
  • 6.284% fixed interest rate (after July 1, 2021)
  • 7.54% fixed interest rate (after July 1, 2022)
  • loan fee of 4.228% (on or after October 1, 2020)
  • can be deferred while in school at least half time
  • modest credit check required
  • must file the FAFSA to apply
  • Department of Education may require some parents to complete loan counseling

Apply

Apply at studentaid.gov by completing the PLUS request process. For more information about the PLUS go to studentaid.ed.gov/types/loans/plus.

If the parent(s) is denied the PLUS, the student is eligible for an additional $4,000 (freshman and sophomores) or $5,000 (juniors and seniors) unsubsidized Federal Direct Stafford Loan.