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Parent PLUS loan interest rates are much higher than interest rates for student loans. Department of Education sent emails or letters to certain Direct PLUS Loan applicants who have been denied a PLUS loan due to adverse credit history.
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The email or letter which is in addition to the standard denial communication is sent to applicants who could most likely be approved if they request reconsideration of the.
. Parents with good credit should comparison shop. Ford Federal Direct Loan Program have either a fixed or a variable interest rate depending on when the loan was first disbursed. Currently the difference is over 2 percent.
Complete the Federal Direct Parent PLUS Loan application. Loans disbursed under the William D. Recently the US.
Private student loans issued to parents or students may have a better interest rate than PLUS loans. The Federal Direct Parent PLUS Loan is available to parents biological parents a stepparent listed on the FAFSA or adoptive parents of dependent undergraduate students to assist with education related expenses not covered by other financial aid the student has been offered. Summary on Parent PLUS loan interest rates.
All Direct Subsidized Direct Unsubsidized and Direct PLUS loans first disbursed on or after July 1 2006 have a fixed interest rate for the life of the loan.
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