A government loan option for parents and grad students
There are two types of Federal Direct PLUS Loans:
- If you’re a parent of a dependent undergraduate student, you can apply for a Federal Direct Parent PLUS Loan to pay for your child’s education.
- If you’re a graduate student, you can apply for a Federal Direct Graduate PLUS Loan to pay for your own education.
You don’t have to show financial need to apply for a Federal Direct PLUS Loan, but you (or your child, if you’re applying for a parent loan) must fill out a FAFSA each year and meet the eligibility requirements.