Parent PLUS Loans are federal student loans taken out by a biological or adoptive parent of a child enrolled at least half-time in school. These loans are usually taken in addition to any federal loans taken by the student directly.
Per the Federal Student Aid Guidelines: "For Parent PLUS loans disbursed between July 1, 2024, and June 30, 2025, the fixed interest rate is 9.08%, and there's a 4.228% loan fee." This rate may vary depending on the year you take a Parent PLUS loan, but will always be relatively close to a 8-10% range.
When you apply for a Parent PLUS loan, a credit check will be run to ensure that you do not have any adverse credit history. There are no set borrowing limits for Direct PLUS Loans, but the amount cannot exceed the cost of your child's education minus any aid the child took themselves.
You can read more about Parent PLUS loans here: https://studentaid.gov/understand-aid/types/loans/plus/parent
For the purposes of Public Service Loan Forgiveness, Parent PLUS Loans must be consolidated into Direct Consolidation Loans and be repaid under the Income Contingent Repayment plan.