What Are PLUS Loans?

Parents of dependent students and students pursuing a graduate

or professional degree can borrow from the PLUS Loan program.

The terms and conditions applicable to parent PLUS Loans (made

to parents of dependent students) also apply to PLUS Loans made

to graduate and professional degree students. These terms and

conditions include:

• a requirement that the applicant not have an adverse credit

history and

• a fixed interest rate of 8.5 percent for FFEL PLUS Loans and

7.9 percent for Direct PLUS Loans.

Unlike parent PLUS applicants, graduate and professional degree

student PLUS applicants must file a FAFSA. In addition, graduate

and professional degree students must have their annual loan

maximum eligibility under the Stafford Loan program determined

by the school before they apply for a PLUS Loan. To find a school suitable

for this program, use the free College Matching Wizard Tool.