From the Federal Student Aid website:
Loan Repayment Plans
Parent PLUS borrowers are eligible for the following repayment plans:
Note: Parent borrowers can become eligible for an additional repayment plan—the Income-Contingent Repayment Plan—by consolidating their parent PLUS loans into a Direct Consolidation Loan.
Kelsmom again: Grad Plus loans are eligible for SAVE plan, but Parent Plus loans are not.
And no, students who are in an undergraduate program cannot borrow parent or grad Plus loans. Students gain some additional eligibility for unsubsidized student loans if the parent is denied a Plus … but the loan is not a Parent Plus loan, and it would not be in an amount as high as $20,000. There must be some misunderstanding here.