What is a PLUS Loan?
Students wondering how to pay for college have many kinds of financial aid to consider, like scholarships, grants, and student loans.
The PLUS loan is a loan from the U.S. Department of Education. Students can use this loan to pay for some of their higher education expenses.
In order to apply for a PLUS loan, students must submit the FASFA. There are two kinds of people who are eligible for the PLUS loan. The first kind are students who are enrolled in either a graduate program or a professional degree program. The second kind are the parents of a dependent student in an undergraduate program.
In order to receive a PLUS loan, the borrower should meet certain eligibility requirements and have a good credit history. The loan amount depends on the student’s cost of attendance and any other financial aid that they have already received.