Parent Plus Student Loan Refinance
If you currently have federal or private education loans for your child’s education, you may be paying high rates that can be lowered through exploring Parent PLUS loan refinance options with PenFed. With our industry-leading rates and flexible terms, we can create a customized solution tailored to your financial needs.
No origination fees, no prepayment penalties—just easy financial solutions from one of the most trusted and stable financial institutions in the business.
Estimate your new parent loan rate after just 2 questions
Find your new rate quickly and use our Parent PLUS loan consolidation calculator to compare options. PenFed has fixed and variable rates available in 5, 8, 12, and 15 year terms to borrowers with strong credit and at least $42,000 in income.
Lower your monthly cost or pay off your private or Parent PLUS loans faster—the choice is yours. Start by answering these 2 questions.
Refinance parent plus student loans - on your terms
PenFed allowed me to knock a point off my student loan interest rate, which will
save me thousands of dollars over the life of the loan.
Great Company, the staff are very helpful… I am pleased with the results
and the refinancing at a much better rate.
This had to be the best experience that I have ever had trying to get a loan.
Of all the companies' customer service representatives I've had communication with
I would rate you as TOPS!
Get Your Questions Answered
Refinancing parent loans can be overwhelming. Don't worry. We've got you covered.
- Can you Refinance Parent Plus Loans?
- Yes! PenFed can refinance parent student loans of any type, and can even consolidate Parent PLUS loans with your private student loans.
- Can you Consolidate Parent PLUS loans with direct loans?
- With a PenFed Parent PLUS student loan refinance, you can consolidate Parent PLUS loans with other types of federal direct loans, including both subsidized and unsubsidized. Direct loan debt in the child’s name can be assumed by the parent, whether or not the child is included on the refinance application.
- Are you eligible for loan forgiveness after a Parent PLUS refinance?
- When you refinance Parent PLUS student loans, you unfortunately do lose the federal benefits associated with those loan programs. It is important to keep these benefits in mind if you are considering consolidating Parent PLUS loans.
- Can a child refinance Parent PLUS loans?
- Yes, a child who has graduated with at least a bachelors degree can use a PenFed Parent PLUS refinance to assume the debt into their own name. We can even help if the child is interested in consolidating Parent PLUS loans with their own federal and/or private loans.