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.


  • available to parents or graduate/professional degree students
  • 8.05% fixed interest rate (after July 1, 2023)
  • 9.083% fixed interest rate (after July 1, 2024)
  • 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
  • The U.S. Department of Education may require some parents to complete loan counseling


Apply at by completing the PLUS request process. For more information about the PLUS go to

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.