Parents of dependent undergraduate students have increasingly relied on Direct PLUS loans to help cover their children’s cost of attendance. Among those who borrowed such loans in 2015-16, the highest-income parents tended to borrow the most money.
Note: Direct PLUS loans for undergraduates are federal student loans available to parents of dependent undergraduate students. The amount borrowed each year cannot exceed the student’s total cost of attendance minus any other financial aid received by the student. Estimates shown in this table are the most recent available and are based on a nationally representative sample of all students in postsecondary institutions in the United States and Puerto Rico that are eligible to participate in Title IV federal financial-aid programs. Parental income is for 2014. Borrowed amounts over $20,000 for the lowest-income bracket and $5,000 or under for the highest-income bracket should be interpreted with caution because the standard error represents more than 30 percent of the estimate. Questions or comments on Almanac should be sent to Ruth Hammond.
Source: U.S. Department of Education, National Center for Education Statistics, 2015-16 National Postsecondary Student Aid Study
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