Federal PLUS Loan for Parents

Why parents choose this loan
An affordable way to pay for your student’s education	If you’re the parent of an undergraduate, this is one of the most affordable ways for you to help cover your student’s education expenses. Use the Federal PLUS Loan¹ to cover the entire cost of education, or combine it with your child's student loans.
Low fixed interest rate	8.5% fixed interest rate
Postponed payments	You can postpone payments while your student is enrolled at least half-time. And if you’re having trouble making payments, we offer ways to lower or postpone your payments.

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Additional features and benefits
How much you can borrow per year	From $200 up to the cost of education (tuition, room and board, books, etc.) minus other financial aid the student receives
Fees	For loans guaranteed on or after July 1, 2008: 1% federal default fee 3% origination fee
Wells Fargo service	Student Loan Specialists ready to help you Free online account access, so it’s easy to pay your loan One bank for all your financial needs
Who can apply	Financial need is not a consideration, but you must meet the following criteria: Be the natural or adoptive parent (or the spouse of a parent) of a dependent student who is seeking a degree and enrolled at least half-time at a participating school Have no adverse credit Be a U.S. citizen, U.S. national, or permanent resident alien Not all schools require the FAFSA for this loan, but it's a good idea to have your child fill one out to receive the maximum student aid he or she is eligible for.

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1. Wells Fargo offers federal student loans to select eligible schools. Wells Fargo will continue to serve our existing federal student loan customers who attend schools which may no longer be eligible under Wells Fargo's policies. Customers must meet qualification criteria and all loans are subject to approval.

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