What is a Direct PLUS Loan?
A Direct PLUS Loan is a federal student loan that can help pay for education expenses not covered by other financial aid.
There are two types:
- Parent PLUS Loans: For parents of dependent undergraduate students.
- Graduate PLUS Loans: For graduate or professional students.
You can borrow up to the full cost of attendance (set by your school) minus any other financial aid you receive. These loans require a credit check, and the interest rate is fixed. You can choose to defer payments while the student is enrolled at least half-time.
For more information, visit PLUS Loan for Parents and Graduate and Professional Students.