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  • Federal Parent Loans for Undergraduate Students (PLUS)
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Federal Parent Loans for Undergraduate Students (PLUS)

Person handing money to another person
PLUS loans are low to moderate-interest loans for parents of undergraduate students. These loans help pay for whatever educational costs are left over after other financial aid is used up.
 
PLUS loans can either be direct, where the U.S. Department of Education is your lender, or FFEL (Federal Family Education) loans, where a bank or other financial institution is your lender. Generally, a school participates in either one program or the other.
 
Am I eligible?
You may be eligible if:
  • Your child is enrolled at least half-time at an eligible university or community college
  • You pass a credit check
  • Both you and your child are U.S. citizens or eligible noncitizens
  • You are in good standing with your other loans
How much can I borrow?
You may qualify to borrow as much as the total cost of the college education minus the amount of financial aid already received.
 
What can I use the money for?
The money can go toward any educational expenses, such as tuition and room and board.
 
When do I have to start repaying the loan?
You can start repaying a PLUS loan after 60 days, but you can also wait until 6 months after your child graduates or stops taking classes.
 
How do I apply?
First, you need to fill out a FAFSA. Next, check with your school’s financial aid office to find out what next steps you need to complete to apply for a Federal PLUS loan.
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