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Our Best Answer:
What is a Parent PLUS Loan?

Parent PLUS Loan

The Parent PLUS Loan is a Federal loan for dependent students whose parents do not have an adverse credit history. If your parent does not qualify for the Parent PLUS Loan due to their credit (as determined by a credit check through the Dept. of Education), we may be able to increase your Unsubsidized Stafford loan for the year. If the loan is approved, it has a fixed interest rate of 7.9% for the life of the loan. Interest rates for new loans may change each year depending upon legislative action. Repayment of the loan begins 60 days after the final disbursement on the loan, although parents may request an in-school deferment as long as the student is enrolled at least half-time. The application is available online at under “Forms.” Please note, you may not apply for a Parent PLUS loan once the semester has ended.

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