A Parent PLUS Loan is a federal student loan that allows parents to borrow money to help pay for their child's college education. This loan is available to the biological or adoptive parents of dependent undergraduate students. The loan can cover the full cost of attendance, minus any other financial aid the student receives. Parents can borrow up to the total cost of their child's education, but they must pass a credit check. Parent PLUS Loans have a fixed interest rate and offer various repayment options, making them a popular choice for families looking to finance higher education.