Plus Loans help parents and student share the cost of financing college by allowing students to refinance the parent's remaining PLUS loan debt into a private credit-based loan as early as 24 months after leaving school.
Federal PLUS Loans are low-rate loans for parents of undergraduate students designed to help you afford a college education. With a PLUS loan, parents can fund the entire cost of the students' education, minus other financial aid received.
Federal Parent PLUS Loan provides funds forindirect expenses like: books supplies, travel, Living expenses and direct costs like: tuition, room, board and fees. With a Grad PLUS loan, graduate and professional students enrolled at least half time can borrow up to the total cost of education, less other financial aid received. This includes books, supplies and living expenses, as well as direct costs like tuition and room and board.