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Parents whose students are still registered as dependents on their tax forms can apply for PLUS Loans. PLUS Loans are federal student loans for parents. The yearly limit on a PLUS Loan is equal to the student's cost of attendance minus any other awarded financial aid.
Graduate students are now eligible to apply for the Graduate Plus Loans which has similar terms but is in the students name rather than the parent's.
PLUS Loan interest rates are fixed for all new PLUS Loans at a rate of 7.9% as of July 1, 2010.