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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".
The FFELP offers four types of loans: the subsidized Federal Stafford Loans, unsubsidized Federal Stafford loans, the Federal PLUS Loan for graduate students and for parents of dependent undergraduate students, and consolidation loans. [3] The main federal student loan is the Stafford Loan. There are two types of Stafford loans: Subsidized.
Direct Subsidized Loans. Direct Unsubsidized Loans. Direct PLUS Loans made to graduate or professional students. Direct Consolidation Loans that did not repay any PLUS loans made to parents.
"Pell Grants," "Direct Subsidized and Unsubsidized Loans" and "Parent PLUS Loans," which are currently managed by the department, which also oversees loan forgiveness programs, including Public ...
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.
In these cases, colleges may offer parents a federal Parent PLUS loan. This is a loan made to the parent of a qualifying student. With college tuition rising each year, finding the funds to cover ...
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