The Federal Direct PLUS Loan Program is for parents of dependent undergraduate students. A credit check is required and will be conducted by the loan servicer. The maximum amount that can be borrowed is the lesser of the cost of education or the difference between the cost of education and any outside resources and/or financial aid received. Interest rates vary annually. The rate for 2018-19 is 7.595%. Repayment begins 60 days after the loan is fully disbursed. Completion of the FAFSA is required for participation in the Direct PLUS Program.