Compare the two types of parent loans for college: federal parent PLUS loans and private parent loans. Learn how each loan option works and whether PLUS or private student loans are right for you.
Parent PLUS loans are eligible for the samestudent loan defermentsas other federal loans. These include postponing payments if you are unemployed or face financial hardship, for example. Parent PLUS loans are also eligible forforbearance. You always pay the interest ...
Parent PLUS loans may still be eligible for federal loan forgiveness programs, such as Public Service Loan Forgiveness (PSLF), if certain requirements are met after the student graduates. Parent borrowers can also consolidate their student debt with a Direct Consolidation Loan and even take advantage...
Our Parent PLUS Loan Calculator shows conventional repayment options as well as loopholes to drastically lower 2025 payments.
Federal Parent PLUS Loan Learn More Cost 4.228% of the loan amount for loans disbursed on or after Oct. 1, 2020 Eligible loans Direct PLUS loans, PLUS loans for graduate and professional students, parent PLUS loans Loan types Fixed Fixed rates (APR) 8.05% for loans disbursed on or after...
A Parent PLUS loan is a federal student loan that parents can take out to borrow money for their child's education.
The decision between federal PLUS loans and private parent loans is a personal one, but there may be some instances when one loan works better than the other.When to use a federal PLUS loanYou could benefit from federal loan benefits: If you want access to longer repayment periods, then ...
Who is eligible for a Parent PLUS loan? Out of all the federal student loans, Parent PLUS loans are the only ones where parents — not students — take out a loan to pay for their child's education costs. Both parents and children need to meet requirements to borrow this loan. Here'...
Eight steps to getting a federal parent loan. By Kim Clark | Sept. 27, 2010, at 6:20 a.m. Save More How Do I Get a Parent PLUS Loan? More 1. Determine whether you are eligible. The government won't make PLUS loans to parents with "adverse credit," which means having a bankrup...
Students get much lower rates on federal student loans than parents. Interest rates for undergraduate direct subsidized and direct unsubsidized loans are currently 6.53%. And in the end, the students have more working years ahead of them than their parents do. ...