Parents of dependent students may apply for a Direct PLUS Loan to help pay their child's educational expenses as long as certain eligibility requirements are met.
To be eligible for a Direct PLUS Loan for Parents:
For more information on Direct PLUS Loans, see the Department of Education website.
A parent whose student has applied for financial aid through the FAFSA, and has met the initial requirements listed above, must:
16-17 Federal Certification
17-18 Federal Certification
Private Parent Loan
Another option for parents is to obtain a loan from a private lender. Eligibility for a private loan is generally premised on the parent's credit worthiness and includes terms and conditions that are typically less attractive than those associated with Federal Parent loans. Click here to do your own research on private lenders as you decide which lender is right for you.