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A PLUS Loan is a student loan, ... The interest rate is currently fixed at 6.28% and charged from the date of the first disbursement until the loan is paid in full ...
These loans are issued directly to parents and the interest rate for Parent PLUS Loans first disbursed on or after July 1, 2023, and before July 1, 2024, is currently 8.05%, according to Sallie Mae.
At present, interest rates on Federal Family Education Loan Program (FFELP) Federal PLUS loans are fixed at 6.84%. [2] Many lenders offer borrower benefits to reduce this interest rate during repayment.
The rate remains 6.8%; PLUS loans made beginning July 1, 2006: 8.5% in FFEL Program; 7.9% in DL Program. For PLUS loans made before July 1, a variable rate applies (with a 9.00% cap). The House passed a resolution in May 2013 to tie student loan rates to free market loan rates. Every year, student loan interest rates will adjust to fit the ...
For the 2021-2022 school year, the Parent Plus loan has a 6.28% interest rate plus an origination fee of 4.228%,” according to the website. Discover: Do’s and Don’ts of Dollar Store Shopping
"They may have variable interest rates, for example, and may not offer the deferments, forbearances, repayment plan options, and targeted cancellation pathways that federal student loans do."
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