Parent PLUS Loan Interest Rate
- Fixed interest rate - 6.41%
- Borrow up to the cost of education
The Federal Parent PLUS Loan for Undergraduate Students enables parents with good credit history to pay the education expenses of each dependent child enrolled as an undergraduate at least half time in an approved college or university. These loans are available through the Federal Direct Loan Program (FDLP).
- PLUS Loan interest rates are fixed for all new PLUS Loans at a rate of 6.41% as of July 1, 2013.
- You may receive a 0.25% repayment interest rate credit when payments are set up for automatic debit from a bank account.
- Interest may be tax deductible under the Hope Education Tax Credit.
- There is no penalty for early repayment, and consolidating your loans after each academic year is easy. It also lowers your monthly payment. Click here for PLUS Loan Consolidation!
- Funds are usually disbursed within the first weeks of the semester. Interest accrues from the time of disbursement.
The primary benefit is that families can borrow federally guaranteed, low interest loans to help pay for a child's education, without needing to worry about collateral, need-based forms, or FAFSA preparation time. Use our online application to Apply Today!
To learn more about the Graduate PLUS Loan, visit GradLoans.com
Estimate your PLUS Loan Monthly Payment*
*Payment estimate assumes an interest rate of 6.41% with a repayment term of 20 years.