Topic: Eligibility Requirements for a Federal Direct Parent PLUS Loan
You must be the student's biological or adoptive parent or the student's stepparent, if the biological or adoptive parent has remarried at the time of application
Your child must be a dependent student who is enrolled at least half-time at a school that participates in the Direct Loan Program. For financial aid purposes, a student is considered "dependent" if he or she is under 24, unmarried, and has no legal dependents at the time the Free Application for Federal Student Aid is submitted
If a student is considered dependent, then the income and the assets of the parent have to be reported on the FAFSA (Exceptions are made for veterans, wards of court, and other special circumstances)
Note: Loan origination fees for Direct Plus Loans will be in place for the 2015 - 2016 academic year. Direct PLUS Loans (Parents and Graduates) disbursed on or after October 1, 2015 and before October 1, 2016 will have an origination fee of 4.272%.
Click here for additional information on Federal Direct Parent PLUS loans for undergraduate students.