Parent Loan for Undergraduate Students (PLUS)

The Parent Loan for Undergraduate Students allows parents to borrow money to help pay the education expenses of a dependent child. Students must be enrolled at least half-time in an eligible program at an eligible school. The interest rate is adjusted annually but has a maximum of 9 percent. Parents begin repaying the loan immediately.

Eligibility

Loans are not based on financial need. All parents or legal guardians of dependent undergraduate students who are enrolled at least half-time are eligible.

Limit

The school financial aid office determines how much parents can borrow. The annual limit on a PLUS Loan is equal to the cost of attendance minus any other financial aid.

How to Apply

Parents must complete a PLUS Loan application, which is available from your school’s financial aid office. In general, they will have to pass a credit check.

For more information, contact:
Federal Student Aid Information Center
U.S. Department of Education
Phone: 1.800.433.3243
(TTY: 1.800.730.8913)

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