Direct PLUS Loans are federal loans offered by the U.S. Department of Education to assist with the costs of higher education. Direct PLUS loans accrue interest at fixed rates throughout the student’s education. Direct PLUS loans may cover any part of full tuition that is not covered by the student’s financial aid package. These loans come in two varieties: Parent PLUS Loans, which are owed by parents of students, and Graduate PLUS Loans, for students pursuing a graduate or professional degree.