Parent PLUS Loans are federal loans that parents can take out to help pay for their children’s undergraduate or graduate education. They are a good option for parents who have good credit and who are willing to borrow money to help their children get a good education.
There are many benefits to taking out a Parent PLUS Loan. First, the interest rates are relatively low. Second, the loans are not based on the student’s financial need, so parents can borrow even if their children have other sources of financial aid. Third, the loans are not discharged if the student dies or becomes disabled.