Parents, this is an opportunity to lock in a great rate on your PLUS loans, even if your child has not completed school. If you are borrowing for the current academic year (or have borrowed since July 1, 1998) your variable PLUS interest rate is 7.94% with a cap of 9%. Consolidation will let you lock in a weighted rate on your PLUS loans for life. With our rate reduction incentives you can acheive a lower rate. If you need to borrow PLUS funds again, you will be eligible to reconsolidate your consolidation loan with your new PLUS loans. Parents can consolidate again and again as new loans are dispursed.

PLUS loans have variable interest rates. Those rates are adjusted each year. A Federal PLUS consolidation loan has a fixed interest rate. The interest rate you pay is determined at the time of consolidation and is based on a weigthed average of the interest rates you are paying on your current parent loans. As mentioned above, current rates are very low meaning that you will be able to "lock in" a low fixed interest rate with loan consolidation.

Benefits include: No Prepay penalties; Deferment and Forbearance; Extended and Income Sensitive repayment plans with one low monthly payment.

Feel fee to contact us to discuss your situation.