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Federal PLUS Loans are education loans for parents of undergraduate students who are pursuing an education. They are available to parents regardless of income or assets, and they have a low variable interest rate which is capped at 9% and is reset annually, each July 1st. PLUS loans can help cover the total cost of education minus financial aid already awarded. We historically rank with the highest PLUS approval rate nationally. Before you borrow, you may want to get a better understanding of the loan application process. Also, check out our Education Loan Fact Sheet  for loan limits, fees, and other details on FFELP loans.
Other benefits of Federal PLUS loans include:
- A pre-application credit approval decision may be available
- PLUS loans require no collateral
- Flexible repayment options offer you a wide variety of choices
- Interest rate reductions may be available for automated payments
- Several higher education tax benefits are available to Federal PLUS loan borrowers.
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