Refinance Parent PLUS Loans

If you have Parent PLUS student loans and are looking to refinance them, look no further. At The Student Loan Calculator, we pride ourselves in offering the largest list of refinancing and consolidation lenders who work with Parent PLUS loans. We constantly shop around to help give you as many options as possible when it comes to refinancing. We realize that not all lenders are equal, with varying terms, conditions, agreements and much more, we try to bring the most important information to the forefront so that you will be able to make an educated decision on which lender will fit your needs best. Helping your child be able to go to school is such a blessing. With that in mind, compare our refinance lenders rates to your current rate to see how much you could potentially save. Ready to see how much you can save with a new lower interest rate? We thought so! Compare our lender’s rates below.

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Best Lenders to Refinance Parent PLUS Loans in 2019


Fixed Rates	3.45% – 6.99%	3.49% – 7.75%	3.20% to 6.25%	3.50% to 7.02%	3.25% to 7.03%	3.90% to 8.18%	3.09% to 6.69%	3.25% to 7.03%	3.10%- 4.85%
Variable Rates	1.81% – 6.49%	1.90% – 8.65%	2.48% to 6.25%	2.80% to 6.22%	2.69% to 7.43%	2.57% to 6.98%	2.55% to 6.01%	2.69% to 7.43%	2.00% – 4.44%
Loan Term Length	5 to 20	5 to 20	5 to 20	5 to 20	5 to 15	5 to 20	5 to 20	5 to 15	5 to 20
	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate
Minimum Lending Amount	$5,000	$5,000	$5,000	$5,000	$7,500	$5,000	$15,000	$7,500	$10,000
Maximum Lending Amount	No Max	$125k undergrad $250k graduate $300k medical	$500,000	No Max	No Max	No Max	No Max	$350,000	$150,000
Auto Pay Discount
Job Loss Protection	up to 1 year	up to 18 months	up to 24 months	up to 1 year	contact lender	up to 1 year	up to 1 year	contact lender	contact lender
Average Savings	$30,939*	Varies	$24,046*	$20,200*	$20,657*	Varies	$26,215	$29,340	N/A
Interest Only Payments
	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate
Eligible Degrees	Undergrad & Graduate	Undergrad & Graduate	Undergrad & Graduate	Undergrad & Graduate	Undergrad & Graduate	Undergrad & Graduate	Undergrad & Graduate	Undergrad & Graduate	Undergrad & Graduate
Eligible Loans	Private & Federal	Private & Federal	Private & Federal	Private & Federal	Private & Federal	Private & Federal	Private & Federal	Private & Federal	Private & Federal
Credit Score Minimum	660	680	680	680	670	Good or Excellent score needed	680	670	720
Minimum Income Requirements	none	$24k annual, $12k with cosigner	$24k per year	none	none	none	$35k annual	$42k annual	$60k annual
Apply with Cosigner
Cosigner Release
	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate
Transferable Parent PLUS Loan from Parent to Graduate
No Origination Fees
No Prepayment Penalty
Refinance Parent PLUS Loans
Can Be a Resident of Any State	Any except AL, DE, KY, MS, NV, RI	Any except ME, ND, NV, RI, WV	Any except ID, LA, MS, NV, SD or VT	Yes	Yes	Yes	Yes	Yes	Texas Residents only
Previously Defaulted Loans Allowed
	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate
Time to get a custom rate	3 minutes or less	3 minutes or less	3 minutes or less	3 minutes or less	3 minutes or less	3 minutes or less	3 minutes or less	3 minutes or less	3 minutes or less
Application Completion time	10 minutes or less	10 minutes or less	10 minutes or less	10 minutes or less	10 minutes or less	10 minutes or less	10 minutes or less	10 minutes or less	10 minutes or less
Application Mobile Friendly
No Personal References Needed
Interest is Tax Deductible
	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate

LENDER	–	MORE INFO
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*Any terms, rates, or other student loan related information listed on The Student Loan Calculator’s website or blog is provided as is and without any warranty or guarantee. The displayed information is not intended to legally bind The Student Loan Calculator or any of its lending partners on The Student Loan Calculator. The displayed rates and terms are based on information provided to The Student Loan Calculator via its lenders. Rates will vary depending on credit information, employment history, and income statements as a few examples. The Student Loan Calculator is not a lender and is not involved with approving or granting loans through the approval process. If you would like more information on a specific loan, please head over to that lender’s website to further view terms and conditions. For any questions or concerns please email us at [email protected]

‣ What is a Parent PLUS Loan?

A Parent PLUS Loan is a loan that is provided by the federal government for Undergraduate Students and is also known as a PLUS loan. This loan is generally available through the Direct Loan program. This program allows parents and/or the legal guardian of the student to borrow money that will allow for the student to cover the costs that may not already be covered by the current student’s financial aid package and will help them in covering the full costs and expenses of attending college.

‣ Who makes Parent PLUS Loans?

As of 2010, all Parent PLUS Loans are made by the United States Federal Government. These loans are typically handled through the child’s college however, you may be able to find more info on these loans through the studentloans.gov. Through this site, you will be able to get a better idea of what is needed in order to qualify for the Parent PLUS Loan as where to apply for this type of loan.

‣ How much will a Parent PLUS Loan cost me?

At the time of writing this section, interest rates for Parent PLUS Loans are now market-based. What this means is rates may change through out the week, month, or year during the term of the loan similar to how you see mortgage rates changes. Parent PLUS Loans will have the rate set for the loan on or after July 1 each year. At the time the loan has been issued, the rate that you have received is locked in. One thing to note is that you may qualify for interest rate deductions on your taxes for qualifying low and middle-income families with Parent PLUS Loans.

‣ What are the advantages of a Parent PLUS Loan?

Parent PLUS Student Loans allow for a few different advantages that may be appealing to clients who look at this loan. Generally speaking, the interest rates for Parent PLUS Loans can vary annually depending on the type of loan offered. You do have the option to get both variable or fixed rate loans depending on the lender requirements. Another benefit of a Parent PLUS Loan is the offer of free insurance on the loan. What this means is the debt will be canceled if the parents or the student who took out the loan dies or becomes disabled.

‣ What are the downsides of a Parent PLUS Loan?

The one major downside of a Parent PLUS Loan is the fact that you are not able to declare bankruptcy on this loan. In fact, with all student loans, you will not be able to file for bankruptcy unlike how you can with mortgages or credit card debt. In extremely rare situations, you may be able to take your case to court.

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