Federal Direct Parent-PLUS
The William D. Ford Federal Direct Parent-PLUS loan may be available to parents of dependent undergraduate students to help pay for direct (tuition, fees, books, and supplies) and indirect (housing, food, transportation, and personal expenses). Direct loan interest rates are set annually through Congress. Direct Parent-PLUS annual and aggregate loan limits apply.
These loans are not based on need but when combined with other resources, cannot exceed the student’s cost of attendance. A credit check on the parent borrower is required and either or both parents may borrow through this program. Loan repayment begins within 60 days of final disbursement of the loan within a loan period. However, parents may request a deferment of payments while the student is attending at least half time.