If you are a dependent undergraduate student, a PLUS loan enables your parents or stepparents (but not your legal guardians or grandparents) to borrow money that can be applied to your educational expenses.
PLUS loans are loaned directly from the federal government to the borrower. This loan is not based on your family’s income or asset information provided on the FAFSA.
- Must be a dependent student
- Have a completed FAFSA on file
- Parent must meet the credit eligibility requirements.
- Must be enrolled at least half time.
Loan amounts & limits
Parent PLUS loan amounts will vary widely. You parent can borrow as much as they like as long as they are not exceeding your total cost of attendance.
To figure out how much to borrow, follow this equation:
Total annual cost of attendance — Other aid awarded = $ parent is allowed to borrow
Should you get a Parent PLUS loan? Use these resources from StudentLoans.gov to make an informed decision.
- Direct Parent PLUS loans
- Financial Aid Process
- Comparing Federal and Private Loans
- Current interest rates