The Parent Loan for Undergraduate Students (PLUS) is part of the Federal Family Education Loan Program (FFELP).
A PLUS Loan is a low-interest education loan that allows parents to fund the entire cost of the student's education less any financial aid already awarded (e.g. Stafford Loans).
It's a cost-effective alternative to using savings, income, retirement accounts or home equity loans for education costs.
Over 500 institutions outside the United States are eligible for the PLUS Loan program.
Not all PLUS Loans are the same. Student Loan International offers the Student Loan Xpress PLUS Loan. What sets the Student Loan Xpress PLUS Loan apart are the borrower benefits -- unmatched for saving parents money. Money-saving borrower benefits include:
Money Up-Front
PLUS borrowers receive a 3% principal reduction* after full disbursement.
Rate Reduction
PLUS borrowers receive a .25% interest rate reduction when they sign up for auto-debit of their loan payments.