These programs offer long tern loans to parents of dependent undergraduate students that are not based upon financial need. Determination of eligibility for need-based aid is not required, but recommended.
Interest begins to accrue as each disbursement is made.
Repayment begins after the loan has been fully disbursed. Money for the Federal Direct PLUS is borrowed directly from the U.S. Department of Education. Parents may receive funds from either of these programs, but not both.