Apply for a Parent PLUS loan at a participating bank or credit union. This loan is between you and the lending institution.
Show that you have a good credit rating and have a dependent undergraduate student attending classes at least half-time.
Receive an amount up to the cost of attendance minus any other financial aid the student is receiving.
Start repayment 60 days after the final loan disbursement for the period of enrollment. There is no grace period.
Accept a variable interest rate capped at 9 percent. Interest begins accruing after the first disbursement of funds.