Definitions for "PLUS Loan"
Loan to parent which is based on credit evaluation. If denied, dependent students can request unsubsidized Stafford.
Parent's Loan for Undergraduate Students A federally guaranteed loan program that allows parents to borrow funds to help pay educational expenses. This parent loan is not a subsidized loan.  The principal and interest must be repaid immediately, or can be deferred (but will accrue interest) until graduation, then full payments must begin. The program does require the borrower to pass a simple credit check. The loan's interest rate is variable, but new loans have a maximum interest rate of 9%.
a federal loan and can only be applied for by completing the government application