 TITLE: What Are the Different Types of Federal Student Loans? CONTENT: PLUS Loans\n----------\nIf you have a parent footing some of your undergrad bill or you're in graduate or professional school, you can also consider a PLUS loan. This is the only federal student loan that requires a credit check, though there is no minimum credit score required. That said, you could be denied if you have an adverse credit history, which includes foreclosure, bankruptcy or seriously delinquent accounts.\nInterest on all PLUS loans begins accruing once the loan is disbursed. Payments on parent PLUS loans begin immediately unless you request a deferral. If you're a graduate or professional student, however, you won't need to begin making payments until six months after you leave school. Paying the accrued interest before your first payment due date prevents it from being added to your existing loan principal.\n*   **Who is eligible**: Graduate and professional students, as well as parents of undergraduate dependent students who are in school at least half time.\n*   **Rates and fees**: The current interest rate on PLUS loans is 5.30%. The fee is 4.228% for loans disbursed before October 1, 2021.\n*   **Borrowing limits**: PLUS loans can be taken out for the full cost of attendance (determined by the school), less any other federal student aid the student receives. END