Direct Parent PLUS Loans are loans available to parents of undergraduate students. The US Department of Education serves as lender.
Direct Parent PLUS Loans are unsubsidized and the borrower is responsible for interest from the disbursement date. Payments begin when the loan is fully disbursed but may be deferred while the student beneficiary is in school at least half time. The interest rate for loans first disbursed after July 1, 2016, is fixed at 6.31%. The origination fee for loans first disbursed after October 1, 2016, is 4.276%. Interest rates and origination fees are subject to change. Use our Loan Fee Calculator to help determine your origination fees when figuring loan amounts.
To be considered for a Direct Parent PLUS Loan, students must:
To be considered for a Direct Parent PLUS Loan, parents must
To qualify for a Direct Parent PLUS Loan, parents must: