The Federal Direct PLUS (Parent Loan for Undergraduate Students) program is available to the parents of dependent undergraduate students. Eligibility requires credit approval and may require an endorser. PLUS Loans are funded by the federal government. The 2016-17 interest rate is 6.31 percent fixed. Parents can borrow up to the school's Cost of Attendance per academic year minus other financial aid awarded.
There are two steps to apply for a Direct PLUS Loan:
1. Complete the PLUS Request Process - All Borrowers
2. Sign a Direct PLUS Master Promissory Note - Required for first time PLUS Loan Borrowers at CalArts