Direct PLUS Loans are federal loans that parents of dependent undergraduate students can use to help pay for college or career school. 
PLUS loans can help pay for education expenses not covered by other financial aid. The U.S. Department of Education makes Direct PLUS Loans to eligible parents through schools participating in the Direct Loan Program. We also offer PLUS loans for graduate or professional students. A Direct PLUS Loan is commonly referred to as a parent PLUS loan when made to a parent borrower. Looking to apply? Use the online application to apply for a parent PLUS loan. Important: Most schools require you to submit the PLUS loan application online, although some schools have different application processes. Note: Before you apply for a PLUS loan , make sure your child has already filled out the Free Application for Federal Student Aid FAFSA form. 

Am I eligible for a parent PLUS loan? 
To receive a parent PLUS loan , you must be the biological or adoptive parent or in some cases, the stepparent of a dependent undergraduate student enrolled at least half - time at an eligible school ; not have an adverse credit history unless you meet certain additional requirements ; and meet the general eligibility requirements for federal student aid. Your child must also meet these requirements. Note: Grandparents unless they have legally adopted the dependent student and legal guardians are not eligible to receive parent PLUS loans, even if they have had primary responsibility for raising the student. Try This Resource Federal Student Loans : Direct PLUS Loan Basics for Parents Provides parents with information on Direct PLUS Loans for parents. Includes an overview of eligibility, the application process, and repayment. 

What is the current interest rate? 
For Direct PLUS Loans first disbursed on or after July 1 , 2019, and before July 1 , 2020 , the interest rate is 7.08 %. This is a fixed interest rate for the life of the loan. 

How much can I borrow? 
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user: I would like some information about the PLUS Loans program for education.

assistant: PLUS loans are in place to help parents pay for education expenses not covered by other financial aid

user: And how do I apply for one of these loans?

assistant: There is an online application for you to apply for a parent PLUS loan.

user: If I do get a PLUS loan and I'm having trouble repaying it, what will happen?

assistant: If you will have trouble making a payment, contact your loan servicer right away. They can help you understand your options for keeping your loan in good standing.

user: What criteria must I meet to be eligible for this loan?

assistant: Are you either the biological, adoptive parent or stepparent of a dependent undergraduate student enrolled at least half-time at an eligible school?

user: Yes the biological parent.

assistant: Is your credit rating good?

user: Yes I have a decent credit rating.

assistant: Do you meet the eligibility requirements for federal student aid?

user: Yes, I think I do.

assistant: Then you should be a candidate to receive a parent PLUS loan.

user: You mentioned earlier that my loan agent could help me if I'm having trouble paying. What exactly could he do?

assistant: For example, they might be able to change your repayment plan to lower your monthly payment or request a deferment that allows you to temporarily stop or lower the payments on your loan.