10 Lenders That Refinance Parent PLUS Loans

Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. Credible Operations, Inc. NMLS # 1681276, is referred to here as "Credible."

When refinancing parent plus loans, you have two options:

1. Refinance the loans in your own name
2. Refinance the loans into your child’s name

No matter which you choose, student loan refinancing can help you — or your child — get a lower interest rate and even pay your loans off faster. Here’s everything you need to know from finding the right lender to the pros and cons of refinancing.

In this post:

• Lenders that refinance Parent PLUS Loans
• How to refinance your Parent PLUS Loans
• When to refinance Parent PLUS Loans
• What to consider before refinancing

Lenders that refinance Parent PLUS Loans

The student loan refinancing companies in the table below are Credible’s approved partner lenders. Because they compete for your business through Credible, you can request rates from all of them by filling out a single form. Then, you can compare your available options side-by-side. Requesting rates is free, and your personal information is not shared with our partner lenders unless you see an option you like.

Lender	Variable rates from (APR)	Fixed rates from (APR)	Can transfer into child's name?
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	N/A	4.54%+	Yes
Fixed APR: 4.54%+ Variable APR: N/A Min. credit score: Does not disclose Loan amount: $7,500 up to $500,000 Loan terms (years): 10, 15, 20 Max. undergraduate loan balance: $250,000 - $500,000 Time to fund: 4 months Repayment options: Immediate repayment, forbearance, loans discharged upon death or disability Fees: None Discounts: Autopay Eligibility: Must be a resident of Kentucky Customer service: Phone Soft credit check: No Cosigner release: After 36 months Loan servicer: Kentucky Higher Education Student Loan Corporation Max. graduate loan balance: $250,000 - $500,000 Credible Review: Advantage Education Loan review Offers Parent PLUS Refinancing : Yes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	1.89%+	2.95%+	No
Fixed APR: 2.95%+ Variable APR: N/A Min. credit score: Does not disclose Loan amount: $10,000 to $400,000 Loan terms (years): 5, 7, 10, 15, 20 Repayment options: Military deferment, forbearance Fees: Late fee Discounts: Autopay Eligibility: Must have a credit score of at least 720, a minimum income of $60,000, and must be a resident of Texas Customer service: Email, phone Soft credit check: Does not disclose Cosigner release: No Loan servicer: Firstmark Services Max. Undergraduate Loan Balance: $100,000 - $149,000 Max. Graduate Loan Balance: $200,000 - $400,000 Offers Parent PLUS Refinancing: Does not disclose
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	2.19%+¹	2.89%+¹	No
Fixed APR: 2.89%+¹ Variable APR: 2.19%+¹ Min. credit score: Does not disclose Loan amount: $10,000 to $750,000 Loan terms (years): 5, 7, 10, 15, 20 Repayment options: Immediate repayment, academic deferment, military deferment, forbearance, loans discharged upon death or disability Fees: Late fee Discounts: Autopay, loyalty Eligibility: Must be a U.S. citizen or permanent resident and have at least $10,000 in student loans Customer service: Email, phone, chat Soft credit check: Yes Cosigner release: After 24 to 36 months Loan servicer: Firstmark Services Max. Undergraduate Loan Balance: $100,000 to $149,000 Max. Graduate Loan Balance: Less than $150,000 Offers Parent PLUS Refinancing: Yes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	3.24%+2	3.34%+2	No
Fixed APR: 3.34%+2 Variable APR: 3.24%+2 Min. credit score: Does not disclose Loan amount: $5,000 to $300,000 Loan terms (years): 5, 7, 10, 12, 15, 20 Repayment options: Military deferment, forbearance, loans discharged upon death or disability Fees: Late fee Discounts: Autopay Eligibility: All states except for ME Customer service: Email, phone, chat Soft credit check: Yes Cosigner release: After 24 to 36 months Loan servicer: College Ave Servicing LLC Max. Undergraduate Loan Balance: $100,000 to $149,000 Max. Graduate Loan Balance: Less than $300,000 Offers Parent PLUS Refinancing: Yes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	2.39%+3	2.79%+3	No
Fixed APR: 2.79%+3 Variable APR: 2.39%+3 Min. credit score: 680 Loan amount: No maximum Loan terms (years): 5, 7, 10, 12, 15, 20 Repayment options: Forbearance Fees: None Discounts: None Eligibility: Must be a U.S. citizen or permanent resident, have at least $15,000 in student loan debt, and have a bachelor’s degree or higher from an approved school Customer service: Email, phone Soft credit check: Yes Cosigner release: No Loan servicer: Mohela Max. Undergraduate Loan Balance: No maximum Max. Graduate Loan Balance: No maximum Offers Parent PLUS Refinancing: Yes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	2.47%+4	3.47%+4	No
Fixed APR: 3.47%+4 Variable APR: 2.47%+4 Min. credit score: 670 Loan amount: $5,000 to $250,000 Loan terms (years): 5, 10, 15, 20 Repayment options: Academic deferment, military deferment, forbearance Fees: Late fee Discounts: Autopay Eligibility: Must be U.S. citizen or permanent resident Customer service: Email, phone, chat Soft credit check: Yes Cosigner release: Yes Max undergraduate loan balance: $250,000 Max graduate loan balance: $250,000 Offers Parent PLUS refinancing: Yes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	3.05%+	3.05%+	No
Fixed APR: 3.05%+ Variable APR: 3.05%+ Min. credit score: 670 Loan amount: $10,000 up to the total amount Loan terms (years): 7, 10, 15 Repayment options: Military deferment, loans discharged upon death or disability Fees: None Discounts: None Eligibility: Must be a U.S. citizen or permanent resident and have at least $10,000 in student loans Customer service: Email, phone Soft credit check: Yes Cosigner release: No Loan servicer: AES Max. Undergraduate Loan Balance: No maximum Max. Gradaute Loan Balance: No maximum Offers Parent PLUS Refinancing: Yes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	2.15%+	2.99%+	Yes
Fixed APR: 2.99%+ Variable APR: 2.15%+ Min. credit score: 670 Loan amount: $7,500 to $300,000 Loan terms (years): 5, 8, 12, 15 Repayment options: Does not disclose Fees: None Discounts: None Eligibility: Must be a U.S. citizen and have and at least $7,500 in student loans Customer service: Email, phone, chat Soft credit check: Yes Cosigner release: After 12 months Loan servicer: PenFed Max. Undergraduate Loan Balance: $300,000 Max. Graduate Loan Balance: $300,000 Offers Parent PLUS Refinancing: Yes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	N/A	3.19%+	Yes
Fixed APR: 3.19%+ Variable APR: N/A Min. credit score: 680 Loan amount: $7,500 to $250,000 Loan terms (years): 5, 10, 15 Repayment options: Academic deferment, military deferment, forbearance, loans discharged upon death or disability Fees: None Discounts: Autopay Eligibility: Available in all 50 states; must also have at least $7,500 in student loans and a minimum income of $40,000 Customer service: Email, phone Soft credit check: Does not disclose Cosigner release: No Loan servicer: Rhode Island Student Loan Authority Max. Undergraduate Loan Balance: $150,000 - $249,000 Max. Graduate Loan Balance: $200,000 - $249,000 Offers Parent PLUS Refinancing: Yes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	2.85%+6	2.99%+6	No
Fixed APR: 2.99%+6 Variable APR: 2.85%+6 Min. credit score: Does not disclose Loan amount: $5,000 up to the full balance Loan terms (years): 5, 7, 10, 15, 20 Repayment options: Academic deferment, military deferment Fees: None Discounts: Autopay, loyalty Eligibility: Available in all 50 states Customer service: Email, phone, chat Soft credit check: Yes Cosigner release: No Max undergraduate loan balance: No maximum Max graduate loan balance: No maximum Offers Parent PLUS refinancing: Yes
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All APRs reflect autopay and loyalty discounts where available | 1Citizens Disclosures | 2College Ave Disclosures | 3 ELFI Disclosures | 4INvestEd Disclosures | 5Iowa Student Loan Disclosures | 6SoFi Disclosures

1. Advantage Education Loan

3.0

Credible rating

Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

Rates and terms

Fees and Discounts

Customer Experience

Advantage Education Loan Student Loan Refinancing

Fixed APR

Lowest fixed rate available from this lender

4.54%+

Variable APR

Lowest variable rate available from this lender

N/A

Min. credit score

Minimum credit score needed to qualify

Does not disclose

Loan amount

Range needed to refinance with this lender

$7,500 up to $500,000

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• Fixed APR: 4.54%+
• Variable APR: N/A
• Min. credit score: Does not disclose
• Loan amount: $7,500 up to $500,000
• Loan terms (years): 10, 15, 20
• Max. undergraduate loan balance: $250,000 - $500,000
• Time to fund: 4 months
• Repayment options: Immediate repayment, forbearance, loans discharged upon death or disability
• Fees: None

• Discounts: Autopay
• Eligibility: Must be a resident of Kentucky
• Customer service: Phone
• Soft credit check: No
• Cosigner release: After 36 months
• Loan servicer: Kentucky Higher Education Student Loan Corporation
• Max. graduate loan balance: $250,000 - $500,000
• Credible Review: Advantage Education Loan review
• Offers Parent PLUS Refinancing : Yes

2. Brazos

4.4

Credible rating

Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

Rates and terms

Fees and Discounts

Customer Experience

Brazos Student Loan Refinancing

Fixed APR

Lowest fixed rate available from this lender

2.95%+

Variable APR

Lowest variable rate available from this lender

N/A

Min. credit score

Minimum credit score needed to qualify

Does not disclose

Loan amount

Range needed to refinance with this lender

$10,000 to $400,000

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• Fixed APR: 2.95%+
• Variable APR: N/A
• Min. credit score: Does not disclose
• Loan amount: $10,000 to $400,000
• Loan terms (years): 5, 7, 10, 15, 20
• Repayment options: Military deferment, forbearance
• Fees: Late fee
• Discounts: Autopay

• Eligibility: Must have a credit score of at least 720, a minimum income of $60,000, and must be a resident of Texas
• Customer service: Email, phone
• Soft credit check: Does not disclose
• Cosigner release: No
• Loan servicer: Firstmark Services
• Max. Undergraduate Loan Balance: $100,000 - $149,000
• Max. Graduate Loan Balance: $200,000 - $400,000
• Offers Parent PLUS Refinancing: Does not disclose

3. Citizens

4.7

Credible rating

Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

Rates and terms

Fees and Discounts

Customer Experience

Citizens Student Loan Refinancing

Fixed APR

Lowest fixed rate available from this lender

2.89%+¹

Variable APR

Lowest variable rate available from this lender

2.19%+¹

Min. credit score

Minimum credit score needed to qualify

Does not disclose

Loan amount

Range needed to refinance with this lender

$10,000 to $750,000

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• Fixed APR: 2.89%+¹
• Variable APR: 2.19%+¹
• Min. credit score: Does not disclose
• Loan amount: $10,000 to $750,000
• Loan terms (years): 5, 7, 10, 15, 20
• Repayment options: Immediate repayment, academic deferment, military deferment, forbearance, loans discharged upon death or disability
• Fees: Late fee
• Discounts: Autopay, loyalty

• Eligibility: Must be a U.S. citizen or permanent resident and have at least $10,000 in student loans
• Customer service: Email, phone, chat
• Soft credit check: Yes
• Cosigner release: After 24 to 36 months
• Loan servicer: Firstmark Services
• Max. Undergraduate Loan Balance: $100,000 to $149,000
• Max. Graduate Loan Balance: Less than $150,000
• Offers Parent PLUS Refinancing: Yes

4. College Ave

4.4

Credible rating

Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

Rates and terms

Fees and Discounts

Customer Experience

College Ave Student Loan Refinancing

Fixed APR

Lowest fixed rate available from this lender

3.34%+²

Variable APR

Lowest variable rate available from this lender

3.24%+²

Min. credit score

Minimum credit score needed to qualify

Does not disclose

Loan amount

Range needed to refinance with this lender

$5,000 to $300,000

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• Fixed APR: 3.34%+²
• Variable APR: 3.24%+²
• Min. credit score: Does not disclose
• Loan amount: $5,000 to $300,000
• Loan terms (years): 5, 7, 10, 12, 15, 20
• Repayment options: Military deferment, forbearance, loans discharged upon death or disability
• Fees: Late fee
• Discounts: Autopay

• Eligibility: All states except for ME
• Customer service: Email, phone, chat
• Soft credit check: Yes
• Cosigner release: After 24 to 36 months
• Loan servicer: College Ave Servicing LLC
• Max. Undergraduate Loan Balance: $100,000 to $149,000
• Max. Graduate Loan Balance: Less than $300,000
• Offers Parent PLUS Refinancing: Yes

5. ELFI

4.4

Credible rating

Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

Rates and terms

Fees and Discounts

Customer Experience

Education Loan Finance Student Loan Refinancing

Fixed APR

Lowest fixed rate available from this lender

2.79%+³

Variable APR

Lowest variable rate available from this lender

2.39%+³

Min. credit score

Minimum credit score needed to qualify

680

Loan amount

Range needed to refinance with this lender

No maximum

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• Fixed APR: 2.79%+³
• Variable APR: 2.39%+³
• Min. credit score: 680
• Loan amount: No maximum
• Loan terms (years): 5, 7, 10, 12, 15, 20
• Repayment options: Forbearance
• Fees: None
• Discounts: None

• Eligibility: Must be a U.S. citizen or permanent resident, have at least $15,000 in student loan debt, and have a bachelor’s degree or higher from an approved school
• Customer service: Email, phone
• Soft credit check: Yes
• Cosigner release: No
• Loan servicer: Mohela
• Max. Undergraduate Loan Balance: No maximum
• Max. Graduate Loan Balance: No maximum
• Offers Parent PLUS Refinancing: Yes

6. INvestEd

3.9

Credible rating

Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

Rates and terms

Fees and Discounts

Customer Experience

INvestEd Student Loan Refinancing

Fixed APR

Lowest fixed rate available from this lender

3.47%+⁴

Variable APR

Lowest variable rate available from this lender

2.47%+⁴

Min. credit score

Minimum credit score needed to qualify

670

Loan amount

Range needed to refinance with this lender

$5,000 to $250,000

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• Fixed APR: 3.47%+⁴
• Variable APR: 2.47%+⁴
• Min. credit score: 670
• Loan amount: $5,000 to $250,000
• Loan terms (years): 5, 10, 15, 20
• Repayment options: Academic deferment, military deferment, forbearance
• Fees: Late fee

• Discounts: Autopay
• Eligibility: Must be U.S. citizen or permanent resident
• Customer service: Email, phone, chat
• Soft credit check: Yes
• Cosigner release: Yes
• Max undergraduate loan balance: $250,000
• Max graduate loan balance: $250,000
• Offers Parent PLUS refinancing: Yes

7. MEFA

4.0

Credible rating

Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

Rates and terms

Fees and Discounts

Customer Experience

MEFA Student Loan Refinancing

Fixed APR

Lowest fixed rate available from this lender

3.05%+

Variable APR

Lowest variable rate available from this lender

3.05%+

Min. credit score

Minimum credit score needed to qualify

670

Loan amount

Range needed to refinance with this lender

$10,000 up to the total amount

Does refinancing make sense for you?
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• Fixed APR: 3.05%+
• Variable APR: 3.05%+
• Min. credit score: 670
• Loan amount: $10,000 up to the total amount
• Loan terms (years): 7, 10, 15
• Repayment options: Military deferment, loans discharged upon death or disability
• Fees: None
• Discounts: None

• Eligibility: Must be a U.S. citizen or permanent resident and have at least $10,000 in student loans
• Customer service: Email, phone
• Soft credit check: Yes
• Cosigner release: No
• Loan servicer: AES
• Max. Undergraduate Loan Balance: No maximum
• Max. Gradaute Loan Balance: No maximum
• Offers Parent PLUS Refinancing: Yes

8. PenFed

4.5

Credible rating

Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

Rates and terms

Fees and Discounts

Customer Experience

PenFed Student Loan Refinancing

Fixed APR

Lowest fixed rate available from this lender

2.99%+

Variable APR

Lowest variable rate available from this lender

2.15%+

Min. credit score

Minimum credit score needed to qualify

670

Loan amount

Range needed to refinance with this lender

$7,500 to $300,000

Does refinancing make sense for you?
Compare offers from top refinancing lenders to determine your actual savings.

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• Fixed APR: 2.99%+
• Variable APR: 2.15%+
• Min. credit score: 670
• Loan amount: $7,500 to $300,000
• Loan terms (years): 5, 8, 12, 15
• Repayment options: Does not disclose
• Fees: None
• Discounts: None

• Eligibility: Must be a U.S. citizen and have and at least $7,500 in student loans
• Customer service: Email, phone, chat
• Soft credit check: Yes
• Cosigner release: After 12 months
• Loan servicer: PenFed
• Max. Undergraduate Loan Balance: $300,000
• Max. Graduate Loan Balance: $300,000
• Offers Parent PLUS Refinancing: Yes

9. RISLA

3.7

Credible rating

Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

Rates and terms

Fees and Discounts

Customer Experience

RISLA Student Loan Refinancing

Fixed APR

Lowest fixed rate available from this lender

3.19%+

Variable APR

Lowest variable rate available from this lender

N/A

Min. credit score

Minimum credit score needed to qualify

680

Loan amount

Range needed to refinance with this lender

$7,500 to $250,000

Does refinancing make sense for you?
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• Fixed APR: 3.19%+
• Variable APR: N/A
• Min. credit score: 680
• Loan amount: $7,500 to $250,000
• Loan terms (years): 5, 10, 15
• Repayment options: Academic deferment, military deferment, forbearance, loans discharged upon death or disability
• Fees: None
• Discounts: Autopay

• Eligibility: Available in all 50 states; must also have at least $7,500 in student loans and a minimum income of $40,000
• Customer service: Email, phone
• Soft credit check: Does not disclose
• Cosigner release: No
• Loan servicer: Rhode Island Student Loan Authority
• Max. Undergraduate Loan Balance: $150,000 - $249,000
• Max. Graduate Loan Balance: $200,000 - $249,000
• Offers Parent PLUS Refinancing: Yes

10. SoFi

4.5

Credible rating

Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

Rates and terms

Fees and Discounts

Customer Experience

SoFi Student Loan Refinancing

Fixed APR

Lowest fixed rate available from this lender

2.99%+⁶

Variable APR

Lowest variable rate available from this lender

2.85%+⁶

Min. credit score

Minimum credit score needed to qualify

Does not disclose

Loan amount

Range needed to refinance with this lender

$5,000 up to the full balance

Does refinancing make sense for you?
Compare offers from top refinancing lenders to determine your actual savings.

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• Fixed APR: 2.99%+⁶
• Variable APR: 2.85%+⁶
• Min. credit score: Does not disclose
• Loan amount: $5,000 up to the full balance
• Loan terms (years): 5, 7, 10, 15, 20
• Repayment options: Academic deferment, military deferment
• Fees: None

• Discounts: Autopay, loyalty
• Eligibility: Available in all 50 states
• Customer service: Email, phone, chat
• Soft credit check: Yes
• Cosigner release: No
• Max undergraduate loan balance: No maximum
• Max graduate loan balance: No maximum
• Offers Parent PLUS refinancing: Yes

How to refinance your Parent PLUS Loans

If you’re thinking of refinancing your Parent PLUS Loans, you should know that Credible makes the process quick and easy; there’s no need to get quotes from each individual lender. Just follow these three simple steps:

1. Fill out the form. Click on “Find My Rate,” and you’ll be prompted to enter your email address and you’ll be asked several questions about your refinancing goals, education, and outstanding loans.
2. Compare offers. Once you’ve submitted your information, if eligible, Credible will provide you with a list of prequalified options from several different lenders. You’ll get actual quotes based on your credit score and credit history (without a hard credit check) so you can make an informed decision.
3. Provide your loan information. Once you’ve found a refinancing loan that works for you, you just need to import your current Parent PLUS Loan information and provide a few additional details about yourself. You can get a finalized offer within one to two business days.

That’s it! You can finish the refinancing process in just a few minutes. You can quickly and easily refinance your Parent PLUS Loans and be on your way to enjoying savings.

Compare Rates Now.

When to refinance Parent PLUS Loans

Refinancing your Parent PLUS Loans can make a lot of sense, especially in the following three situations:

1. You want to save money overall. If you have good credit and a stable income, you might qualify for a much lower rate when you refinance. Estimate how much you can save with our student loan refinancing calculator.
2. You want to lower your monthly payment. Refinancing could also help you reduce your monthly payment, helping you get more wiggle room in your budget. If you do lengthen your repayment term though, keep in mind that could cause you to pay more in interest over the life of your loan.
3. You want your child to take over the loan. As you near retirement age, your Parent PLUS Loans may be too much of a burden for you to bear on your own. Luckily, some lenders allow you to refinance Parent PLUS Loans into your child’s name, removing you from any responsibility for the loan.

What to consider before refinancing

When you refinance, your federal Parent PLUS Loans will be replaced by a private loan. Private student loans have fewer protections and benefits than federal loans, so you’ll lose out on those perks.

That means you’ll no longer have access to things like income-driven repayment plans or the ability to place your loans into deferment or forbearance in the case of financial hardship.

But if you’re struggling to keep up with your loan payments or if you want to pay off your debt ahead of schedule, student loan refinancing can be a smart choice. If you’re ready to refinance your Parent PLUS Loans, compare offers from multiple lenders to get the best rate.

Methodology: Credible evaluated loan and lender data points in 12 categories to identify some of the “best companies” for refinancing Parent PLUS loans that also offer refinancing in the student’s name. We looked at interest rates, repayment terms, repayment options, fees, discounts, customer service availability, and maximum loan balances offered by 20 lenders. We also considered each company’s willingness to refinance parent loans, eligibility, cosigner release options, whether the minimum credit score is available publicly, and whether consumers could request rates with a soft credit check.

Credible receives compensation from its lender partners when a user of the Credible platform closes a loan with the lender.

Read the full student loan refinancing lender methodology.

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About the author

Kat Tretina

Kat Tretina is a contributor to Credible who covers everything from student loans to personal loans to mortgages. Her work has appeared in publications like the Huffington Post, Money Magazine, MarketWatch, Business Insider, and more.

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