Secured PLUS Loans Offer Parents Help with their Child's Education

A PLUS loan is a "Parent Loan for Undergraduate Students." PLUS loans allow parents to support their children in college by taking out loans to offset the expense of their child's education. Parents can choose simply to help offset the cost of their child's tuition or to finance their child's education completely through a federally secured PLUS loan. If this does not answer your questions regarding secured student loans, then please visit our FAQs page.

PLUS loans are exceptional deals for parents and undergraduates alike

PLUS loans offer students the benefit of parental support with their college payment strategy. A Federal PLUS loan is backed by the government, allowing parents to borrow up to 100% of the cost of helping send their child to college. Interest rates on a Federal PLUS loans are some of the cheapest on the market, ranging as low as 6.25%! Additionally, this type of secured student loan may be tax deductible.

Federal PLUS loans are accessible regardless of financial need

No matter how much money you or your parents make, you can't be turned down for a PLUS loan. This is because federally secured PLUS loans are not contingent upon level of income. Because PLUS loans offer students and their families such competitive interest rates and generous terms, a secured PLUS loan is one of the best options available for students whose financial aid packages don't quite cover the full cost of college.

PLUS loans help families pay for school costs

PLUS loans help families cover the cost of college through a simple and convenient application process. Applications for a federally secured PLUS loan can be made at any time throughout the school year-provided that students complete their FAFSA, have registered for classes, and the applicant maintains eligible credit approval. PLUS loans also offer flexibility in the repayment of a student's secured loan. If you choose to use auto-debit repayment, you can even qualify for a .25% interest rate reduction!