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Some lenders will permit the refinancing of those Parent PLUS loans from the parent's name into the name of the child/graduate.Indicates whether or not the lender allows loans that were previously in default, but have now been rehabilitated, to be refinanced.Loans currently in default are generally not eligible for refinancing.This is the lowest credit score a lender will consider when determining borrower eligibility.Learn more"Term" refers to the length of the loan, typically in years.In general, the shorter the term, the lower the interest rate and the higher the monthly payments.The average amount borrowers have saved by refinancing with this lender.
Borrowers may select any term offered by a lender regardless of the current loan term.
See each lender's website with more details on how this figure is calculated.
If a borrower loses their job through no fault of their own, they may be eligible to receive unemployment benefits with some lenders.
Borrowers typically have the option to make interest-only payments during this period in order to prevent accruing interest from increasing their balance.
Many parents take out "Parent PLUS" loans to pay for their children to attend college.
The rates and terms listed on our website are estimates and are subject to change at any time.