Federal Parent Loan (PLUS)

Parents of dependent students may apply for a Direct PLUS Loan to help pay their child's educational expenses as long as certain eligibility requirements are met.

To be eligible for a Direct PLUS Loan for Parents:

  • The parent borrower must be the student's biological or adoptive parent. In some cases, the student's stepparent may be eligible.
  • The student must be a dependent student who is enrolled at least half-time.
  • The parent borrower must not have an adverse credit history (a credit check will be done).
  • The student and parent must be U.S. citizens or eligible noncitizens, must not be in default on any federal education loans or owe an overpayment on a federal education grant, and must meet other general eligibility requirements for the federal student aid programs.
  • In order to receive a PLUS Loan, you and your student must complete the Free Application for Federal Student Aid (FAFSA)

For more information on Direct PLUS Loans, see the Department of Education website.

A parent whose student has applied for financial aid through the FAFSA, and has met the initial requirements listed above, must:


Private Parent Loan

Another option for parents is to obtain a loan from a private lender. Eligibility for a private loan is generally premised on the parent's credit worthiness and includes terms and conditions that are typically less attractive than those associated with Federal Parent loans. Click here to do your own research on private lenders as you decide which lender is right for you.