Federal Direct Parent PLUS Loans
Direct Parent Loans for Undergraduate Students (PLUS) are loans made to creditworthy biological, adoptive, or step-parents of eligible dependent undergraduate students who are enrolled at least half time. The lender is the U.S. Department of Education, authorized under the William D. Ford Federal Direct Loan Program. An origination fee will be deducted from each disbursement by the U.S. Department of Education. Although you are required to file the FAFSA, PLUS loans are not based on need. Typically borrowers begin repaying principal and interest within 60 days of last disbursement of the loan. See the Instructions for Applying.