Federal Parental Loans to Undergraduate Students

The purpose of the Federal Parental Loans to Undergraduate Students (PLUS) loan is to enable parents with good credit histories to borrow to pay the educational expenses of their dependent undergraduate students. To be eligible, parents must:

• Be a U.S. citizen or an eligible non-citizen
• Have student(s) enrolled at least half-time.
• Have student(s) who are meeting the Satisfactory Academic Progress requirements of the college or university.
• Have good credit.
• Are not in default or owe a refund (the financial aid office may call this an "overpayment") to any student financial assistance program.
• The parent seeking the PLUS loan must pass a credit evaluation in order to be eligible to qualify for this loan.

Applicants do not have to show financial need. The PLUS may be used to cover the family's expected contribution (EFC). The amount of PLUS combined with other financial assistance cannot be greater than the cost of attendance.