Parent PLUS loans for college are debt-based forms of financial aid offered through the federal government. Like with other federal student loans, the US Department of Education is essentially the lender.
– Parent of a qualifying dependent student– Must have suitable credit– You and your student need to meet the general eligibility requirements for federal student aid.
The maximum amount you can potentially receive through a Parent PLUS loan is based on how much your student’s school costs and the value of their current financial aid package.
Consider whether you are comfortable shouldering a large debt over the long-term based on how it will impact your financial future. In the end, you’re responsible for repayment, so you need to keep that in mind.