Direct PLUS Loan

A Direct PLUS Loan is a federal student loan available to parents of dependent undergraduate students and some graduate students. It helps cover educational expenses not met by other financial aid. The loan’s interest rate is set by the government and accrues over time. Borrowers are responsible for repaying the loan, typically in monthly installments, and must pass a credit check to qualify. This loan allows families to better manage college costs but requires careful planning, as it adds to the student’s overall debt and repayment obligations after graduation.