Explore top options for parent-funded college loans, including federal and private lending solutions. Learn about interest rates, fees, and repayment terms to make informed decisions for financing your child's education without compromising your financial future.

Funding Alternatives for Parents Covering College Expenses

Below are three prominent options for parent college loans:

Federal Direct PLUS Loans: A reliable government-supported loan program in operation since 1980. These loans have fixed interest rates (6.31% in 2016-17), a 4.28% origination fee for that year, and offer repayment over 10 years.

SoFi Parent Loans: Founded in 2011, SoFi offers competitive rates with APRs from 2.95% to 6.13% variable, and 4.25% to 7.75% fixed. There are no origination fees, and repayment terms are flexible, ranging from 5 to 10 years.

College Ave Parent Loans: Provide variable APRs between 4.03% and 6.03%, with no origination fees, and flexible repayment periods from 5 to 12 years.

Important Consideration:

This information is compiled from research, data, and expert insights. However, loan rates and terms can vary depending on individual circumstances and lenders. Financial conditions evolve, so it's advisable to consult a financial advisor before borrowing. We do not guarantee the absolute accuracy or applicability of this information.