PLUS Loans

Parent Loans for Undergraduate Students, or PLUS Loans, are Federally-insured loans for parents of dependent students.  Parents can take out a loan to pay for a student's educational expenses, as long as the student is a dependent undergraduate student enrolled at least half time. As is true for Stafford Loans, there are FFEL PLUS Loans and Direct PLUS Loans.

To apply for a PLUS loan, the parent must complete a Direct PLUS Loan application and promissory note, contained in a single form that you get from a school's financial aid office.  The yearly limit on a PLUS Loan is equal to the cost of attendance minus any other financial aid received.