PLUS Consolidation
Parent PLUS Loan
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PLUS Loan Consolidation Benefits
All new Parent PLUS Loans disbursed after July 1, 2006 have a fixed interest rate of 8.50%. New federal consolidation loans are caped at 8.25%. Because Parent PLUS Loans can be consolidated upon final disbursement, PLUS Loan borrowers who take advantage of federal PLUS Loan consolidation can lower their interest rate to .25% immediately!
Other Benefits of PLUS Loan Consolidation
- Reduce your monthly payment up to 53% and beat inflation
- Make one loan payment a month
- Improve your credit rating
- There are no fees, no credit checks, application or origination charges associated with your application
Learn how PLUS Loan Consolidation works in this step by step tutorial!
Requirements to Consolidate PLUS Loans
- You must have at least $10,000 in PLUS Loans
- You must have received the final disbursement for the current academic year – you do not have to wait until your child has graduated!
Request a Free Information Packet and Application
Consolidation can significantly reduce your monthly payment burden. PLUS Loan Consolidation allows you to stretch your repayment period from the standard 10-years to up to 30-years, depending on the amount of your education debts. The lower payment means you'll have more money available to meet other household expenses, like car payments, childcare, and career-related necessities. Click here to apply for PLUS Loan Consolidation.
