PLUS loans are federal loans available to parents of dependent undergraduate students and to graduate or professional students. These loans help cover the cost of education that exceeds other financial aid, such as federal student loans and scholarships. Parents can borrow up to the full cost of attendance, minus any other financial aid received. PLUS loans have a fixed interest rate and require a credit check, but they offer flexible repayment options, making them a popular choice for families looking to finance higher education.