Federal Parent Loans for Undergraduate Students (PLUS)
Amount: $100 up to the total cost of education.
- Available to parents of college students.
- Replaces all or part of the expected family contribution.
- Is limited only by the cost of attendance.
- New borrowers pay 7.9% interest for loans borrowed through the Direct Loan program, 8.5% for loans borrowed through a bank or lender.
- A FAFSA and credit check are required.
- Repayment begins within 60 days after the loan has been fully disbursed. Interest-only payments may be made while the student is in school. Deferments of loan payments are available – see the loan disclosure for further information.
- Loan has a maximum repayment period of 10 years.
- New PLUS applications may be completed at StudentLoans.gov.