Federal Direct Parent Loans for Undergraduate Students (PLUS)

PLUS loans provide funds to parents to help meet the cost of your education. These funds are in addition to those received under the Direct Loan programs.

Parents of dependent undergraduate students may be eligible for a PLUS loan. The cost of education minus other financial aid equals the amount parents may borrow per year.

A loan fee is normally charged to the borrower and is deducted from the load amount before you receive it. At present, this fee of 4.276% is subtracted from the total loan before the funds are disbursed.

The interest rate is a fixed rate at 6.31%.