: This is the mandatory first step for federal loans.
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The Guide to "Student Parent Loans": Bridging the College Funding Gap : This is the mandatory first step for federal loans
: 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 Learn more Student/Parent Loans | Grand View University
The is the most common option. It is issued by the U.S. Department of Education and is available to credit-worthy parents of dependent undergraduate students.
