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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.
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".
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. Graduate PLUS loans have the same interest rates and terms as those to parents.
“Before the pandemic, 7.5 million borrowers were in default and normally the rehabilitation of default loans requires at least nine on-time payments,” Mark Kantrowitz, author and student loan ...
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 ...
An important deadline is coming up for student loan payments Sept. 30, and it may affect credit scores. Skip to main content. 24/7 Help. For premium support please call: 800-290-4726 more ways to ...
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