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 expenses.

Details

  • available to parents or graduate/professional degree students
  • 7.21% fixed interest rate (2014-2015)
  • loan fee of 4.3%
  • can be deferred while in school at least half time
  • modest credit check required
  • must file the FAFSA to apply

Apply

Apply at studentloans.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 sophmores) or $5,000 (juniors and seniors) unsubsidized Federal Direct Stafford Loan.