Federal Parent Loans For Undergraduate Students - PLUS

The federally sponsored Parent PLUS loan is a low interest student loan for parents of undergraduate, dependent students. With a Parent PLUS loan, families can fund the entire cost of a child's education (less other financial aid).

Topics

  1. What are Federal Parent PLUS Loans?

  2. Who is eligible?

  3. How Much Money Can You Get?

  4. What Are Your Repayment Options?

  5. Need Additional Information?

1. What are Federal Parent PLUS Loans?

Federal Parent Loans enable parents with good credit histories to borrow to pay the education expenses of each child who is a dependent undergraduate student enrolled at least half time in an approved college or university. These loans are available through both the Direct Loan and FFEL programs. Most of the benefits to parent borrowers are identical in the two programs.

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2. Who is eligible?

  • You may apply for a Parent PLUS loan to pay for the higher-education-related expenses of an undergraduate, dependent child. Parents of independent students are not eligible.
  • You must be a U.S. citizen or national, a U.S. permanent resident, or eligible non-citizen.
  • A credit check is required.

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3. How Much Money Can You Get?

Borrowers may borrow up to the Return to top

4. What Are Your Repayment Options?

Repayment of both principal and interest begins within 60 days of receiving the loan and extends from five to 10 years. The amount borrowed determines the minimum monthly payment, but no payment will be less than $50 a month.

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5. Need Additional Information?

The Federal Student Aid

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