Parent Loans: Student

: Rates can sometimes be lower than federal PLUS loans for those with high credit scores (some as low as under 4% in certain markets). Some lenders offer a cosigner release , allowing the parent to be removed from the debt after the student makes a set number of on-time payments.

AI responses may include mistakes. For financial advice, consult a professional. Learn more Student/Parent Loans | Grand View University student parent loans

If you have excellent credit, you might find lower interest rates through private lenders like College Ave , Sallie Mae , SoFi , Earnest , or Citizens Bank . : Rates can sometimes be lower than federal

: Parent PLUS borrowers can use a "Double Consolidation" strategy to access more favorable Income-Driven Repayment plans, such as the Saving on a Valuable Education (SAVE) plan, which are otherwise unavailable to them. For financial advice, consult a professional

: If a parent is denied a PLUS loan due to adverse credit, the student may become eligible for additional unsubsidized Stafford loans in their own name. Actionable Steps

: You can borrow up to the full COA minus any other financial aid the student receives.

: Private loans lack federal protections like income-driven repayment, broad deferment options, or federal forgiveness programs. 3. Comparison of Key Features Federal Parent PLUS Private Parent Loan Lender U.S. Dept. of Education Banks/Credit Unions Interest Rate Fixed (8.94% for 2025-26) Variable or Fixed (based on credit) Credit Check Required (looks for "adverse history") Required (looks for high credit score) Transferability Nontransferable to student Possible through private refinancing Death Discharge Discharged if parent or student dies Varies by lender 4. Important Considerations for Families