PLUS Loan(redirected from Federal Parent Loan for Undergraduate Students)
Also found in: Acronyms.
A loan that a parent may borrow to pay for a child's post-secondary education expenses. PLUS loans are guaranteed by the U.S. government, and have a 7.9% interest rate. Unlike some other education loans, PLUS loans are awarded on the basis of the creditworthiness of the borrower.
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