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These loans are for undergraduate, graduate and professional students enrolled for at least half-time. Both Federal Direct Loans Program and Federal Family Education Loans (FFEL) Program support Parent PLUS loans.

These loans are no different from other Federal Student Loans with the exception that applicants can not have an adverse Credit History

This subsidized loan is made by the federal government directly. U.S. Department of Education is the lender and the school helps to administer the loan program by distributing the loan application, processing the loan, and disbursing the loan funds.

The first step when applying for Federal Parent PLUS Loan is to check if your school participates in the Direct PLUS Loan Program or FFEL PLUS Loan Program. You will need to complete the loan application and promissory note contained in a single form from the Financial Aid office at the school.

Students do not have to submit their FAFSA Applicationif they will not be receiving any other federal Financial Aid. However, parents are encouraged to have their dependent children submit a FAFSA Application so their children can receive the maximum student Financial Aid they are eligible for.

Graduate and Professional Study students applying for a PLUS Loan are require to submit FAFSA.

Parent PLUS Loans are for Undergraduates, Graduates, and Professional Study students.

If the parent is borrowing on behalf of a student,the student must also meet these general eligibility requirements:

   Be a United States Citizen Or Eligible Non Citizen
   Not Be In Default On a Federal Student Loan
   Not Owe A Refund On A Federal Education Grant

Credit history is not required for this loan, but applications can not have an adverse Credit History. Even with an adverse credit history, he or she may still be able to receive a loan by documenting the problems and explaining the situation, or simply by obtaining an endorser who does not have an adverse Credit History.

Foreclosures, bankruptcies, tax liens and repossessions within the past five years can all lead to a PLUS loan being denied.

The maximum PLUS loan amount that a parent or a graduate and professional degree student can borrow is the student's cost of attendance minus any other Financial Aid the student receives.

This loan has a fixed interest rate of 8.5% for a FFEL Parent PLUS Loans and 7.9% for Direct PLUS Loans.

The lender under the Direct Loans Program is U.S. Department of Education and you repay the loan to the federal government. No private institution or bank is involved here. Parent PLUS Loans from the Federal Family Education Loan (FFEL) Program are unsubsidized and the lender is a private bank or a private institution.

Students have between 10 to 25 years to repay, depending on the amount owned and type of repayment plan the selected. You will receive more information about your repayment choices when you leave school, or during your grace period.

Repayment of a PLUS Loan for Graduate or Professional Degree students begins on the date of the last disbursement.

Parent PLUS Loan borrowers whose funds were first disbursed on or after July 1, 2008, have the option of delaying their repayment either 60 days after the loan is fully disbursed or six months after the dependent students is not enrolled at least half-time. During this time, interest may be paid by the parent or it can be capitalized.