College Planning & Financial Aid
What is the interest rate on college PLUS Loans ?
Currently Plus Loans can be obtained at a Fixed interest rate of 8.5%. Your parents will be notified of interest rate changes throughout the life of their loan. Interest is charged on the loan from the date that the first disbursement is made until the loan is paid in full. This loan is based on credit-worthiness and the parent starts repayment 60 days after the full disbursement of the loan. The parent may borrow up to the student's cost of education, excluding awarded financial aid.
Need Professional Help?
If you need help with "College Planning & Financial Aid" or have other tax questions, we can help you find a local licensed tax preparer for a free, no-obligation consultation.