Federal PLUS Loans
Good news for parents! There is a federal loan that is especially for parents of students called the PLUS Loan for Parents. It allows parents to borrow money to help pay for their child’s education as long as their child is a dependent, undergraduate student. The child of these parents must be enrolled at least as a half-time student attending an eligible school with an eligible program. The parents will have to provide a credit history that will impact the likelihood of getting the loan.
How To Find Out About PLUS Loans for Parents?
Parents can get the PLUS Loan through the Federal Family Education Loan (FFEL) program or the William D. Ford Federal Direct Loan (Direct Loan) program. A student’s financial aid office is the place to call to get information and apply for the PLUS loan for Parents.