PLUS loans come in two varieties: 1) Parent PLUS loans are for parents borrowing for the education of dependent undergraduate children enrolled in school at least half time and 2) “Grad PLUS” loans are available for graduate and professional students. For PLUS loans first disbursed on July 1, 2019 and before July 1, 2020, the interest rate is 7.08%. The Department of Education web site has information about the fees the government charges when you take out a PLUS loan.
