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 for Grad PLUS. Parent PLUS loans will be limited to $20,000 per dependent student. 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.