Direct Parent PLUS Loans
The Federal Direct Parent PLUS Loan Program provides loans for parents of dependent students attending post-secondary schools. The Direct PLUS Loan is an education loan with a fixed interest rate (6.41% for the 2013-14 academic year) that allows a parent to fund up to the entire cost of their student's education minus financial aid already awarded.
Eligibility is based on credit worthiness of the parent. Parents and/or step parents of dependent undergraduate students are eligible to borrow under the Federal Parent PLUS program.
The FAFSA (Free Application for Federal Student Aid) must be completed and federal and state eligibility determined before a Parent PLUS Loan can be processed.