The Guide to

Federal Direct Parent PLUS Loan (2023-24)

Average of $20,000



June 30, 2024


Effort to apply


chance to win

Chance to win


About this scholarship

If you're a dependent undergraduate student, your parent can take out a Federal Direct Parent PLUS Loan to help you pay for college! The interest rates aren't quite as low as other federal loans, so it's worth comparing with private student loans.


Show that you’re the best applicant out there with a stand-out essay.


Only students with certain incomes and savings qualify.


Scholarships for students in specific states and cities.

Provider: US Federal Government

Who qualifies?

Your parents can take out a Federal Direct Parent PLUS Loan if you're a dependent undergraduate student studying at least half-time.

How do you apply?

You / your parent will need apply for a Federal Direct Parent PLUS loan, which you can do once you've filled out your FAFSA. The loan application is fairly basic but requires a credit check. The deadline for all federal aid is June 30, but colleges usually have an earlier deadline, so be sure to check yours!

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The Mos Team ✌️

Updated on September 26, 2023


The max most students (dependents) can borrow across multiple years is $23,000 in Subsidized Loans and $31,000 in Subsidized + Unsubsidized Loans—independent students, however, can borrow up to $57,500 in Subsidized + Unsubsidized Loans. Graduate students can also borrow more, up to $138,500 in Subsidized + Unsubsidized Loans. PLUS Loans (made to parents and grad students) can be an option once those limits are reached.

The following groups are eligible for federal financial aid in addition to US citizens—

  • Citizens of the Federated States of Micronesia, the Republic of the Marshall Islands, or the Republic of Palau

  • US nationals (includes natives of American Samoa or Swains Island)

  • US permanent residents—who have a 'green card' (1-551, 1-551C, I-151)

  • Immigrants with an Arrival Departure Record (I-94) showing refugee, asylum-granted, Cuban-Haitian entrant, or parolee status

  • Immigrants with a T-visa (for victims of human trafficking)

  • Battered immigrant-qualified aliens

A credit score is based on your credit history, which means you need to have done at least one of the following to start building credit:

  • paid monthly bills

  • opened a credit card or become an authorized user for a credit card (a store-specific credit card counts)

  • used a credit card and made payments

Credit scores range between 300 and 850. A credit score around 700 is generally considered good.

Watch out: running a credit check to find out your score actually lowers your score, so you only want to do this when there's a clear purpose, like applying for a loan.

If you don't have credit yet, or your credit is low, you can always take out a loan with a cosigner.

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