Federal Direct Plus Loan for Parents

The Parent PLUS Loan is a credit-based, optional loan program available to the parent of a dependent, full-time undergraduate student. It is used to supplement other financial aid offered to the student. Repayment of the loan is solely the responsibility of the parent who applies for this option.

Eligibility Requirements

  • U.S. citizen or permanent resident
  • Be the parent of a dependent undergraduate student
  • Satisfactory credit history (credit criteria are determined by the Department of Education)

Applying for a PLUS Loan

Parents apply for a PLUS Loan online at studentaid.gov. Parents should only apply after all financial aid applications have been submitted and their student has received a financial aid package. View the How to Apply for Aid page for more details.

Annual Loan Limits

Cost of attendance minus other financial aid the student is receiving. Loan amount, in combination with all other forms of financial aid, cannot exceed the total cost of attendance for the year.

Interest Rates

Interest rates for Federal Direct loans are calculated on a year-by-year basis using the 10-Year Treasury Note index rate in combination with an add-on amount determined by Congress. Each loan has a rate cap should the Treasury Note index increase in subsequent years.

View information about interest rates for federal direct loans at studentaid.gov.

Origination Fees 

Most federal student loans have fees that are a percentage of the loan amount. View more information about Origination Fees.

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