PLUS Loan Consolidation

Consolidating Federal PLUS Loans is a practical, debt management tool that enables you to bundle all of the federal loans you received to finance your child's college education into a single loan. Consolidation can significantly reduce your monthly payment burden by allowing you to stretch your repayment period from the standard 10 years to up to 30 years (depending on the amount of your education debts). Having a lower payment means you'll have more money available to meet other household expenses, like your mortgage, car payments, and career-related necessities.

Benefits of Federal PLUS Loan Consolidation

Reduce your monthly payment up to 53% by extending your repayment term Reduce your interest rate .25% instantly
• Improve your credit rating by consolidating several open loan accounts into a single loan
• There are no credit checks and no application fees or origination charges associated with your consolidation

Requirements to Consolidate PLUS Loans

• You must have a minimum of $20,000 in PLUS Loans
• You must have received the final disbursement for the current academic year; you do not have to wait until your child has graduated.

Apply now for a free information packet and you could secure a low fixed interest rate for the life of the loan! Rates are variable based on existing PLUS Loans.

All new Parent PLUS Loans disbursed since July 1, 2006 have a fixed interest rate of 8.50%. New federal consolidation loans are capped at 8.25%. Because Parent PLUS loans can be consolidated upon final disbursement, PLUS loan borrowers who take advantage of federal PLUS Loan consolidation can lower their interest rate to 8.25% immediately!