Federal Parent Loan of Undergraduate Student (PLUS)
- Parents can borrow a PLUS Loan to help pay the education expenses of a dependent undergraduate student enrolled at least half time in an eligible program at an eligible school.
- Pending a credit check, the parents should accept the PLUS Loan through the student’s award letter. Through a link they will be directed to sign a master promissory note.
- The yearly limit on a PLUS Loan is equal to the cost of attendance minus any other financial aid received. If the cost of attendance is $6,000, for example, and the student receives $4,000 in other financial aid, the parents can borrow up to $2,000.
For more information, go to the Federal Student Aid website.