Direct PLUS Loans are unsubsidized loans for the parents of dependent students. PLUS loans help pay for education expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods. The lender is the U.S. Department of Education rather than a bank or other financial institution. The current interest rate is 6.41%, and the loan is credit-based. For those parents who do not qualify for the loan, students are eligible for an additional amount of Unsubsidized Direct Loan. The amount a parent is eligible to borrow is located on the Award Acknowledgment Acceptance Form. If you choose to borrow through the PLUS Loan program, you will need to complete the steps listed in the PLUS Loan Packet for your loan year, located on the Forms page.