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FinancialAid.com - PLUS Loans
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What is a PLUS loan? Federal Parent Loans for Undergraduate Students, also known as PLUS loans, are low-interest education loans that allow parents to fund the cost of their child's education.
A parent is eligible to borrow up to 100% of the estimated cost of their child's attendance, including tuition, room and board, books, transportation and additional expenses, minus any other financial aid awarded to the student.
Eligibility Requirements Why do financial experts recommend the PLUS Loan? Many people take advantage of the PLUS loan due to the low interest rates and favorable repayment terms. With simple interest rates as low as 2.17%, many families place the money that they were going to use for college into investments that earn more compounding interest.
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