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A PLUS Loan is a student loan, which is part of the Federal Direct Student Loan Program, offered to parents of students enrolled at least half time, or graduate and professional students, at participating and eligible post-secondary institutions. The original, now obsolete, meaning of the acronym was "Parent Loan for Undergraduate Students".
Direct PLUS Loan: The direct PLUS loan is a federal loan that graduate or professional students and parents of undergraduate students can use to pay for their education. These loans can be used to help pay for education expenses not covered by financial aid. The Direct PLUS loan is not based on financial need, but credit is necessary.
Parent Plus loans -- also known as a Direct PLUS Loan -- are issued by the federal government and let parents of dependent students borrow funds to help pay for a student's college or career ...
All federal loans will have “Direct” in their names, like “Direct Subsidized Loan,” “Direct PLUS Loan” or “Direct Consolidation Loan,” for example. For PLUS Loans, you might see ...
If you’ve decided to take out loans to pay for your child’s schooling, you’ve likely heard about parent PLUS loans, a popular option for parent student loans. Basically, parent PLUS loans ...
Loan documents reflect the repayment schedule for a single year. Since most students borrow again each year, the ultimate payments are much higher. PLUS loans consider credit history, making it more difficult for low-income parents to qualify. Graduate students are eligible to receive PLUS loans in their own names.
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