Top 3 Options for Parent College Loans
July. 16,2025
Explore the top three parent college loan options including federal and private lenders. Learn about rates, terms, and how to choose the best loan for supporting your child's education while managing your financial future effectively.
Top 3 Options for Parent College Loans
Here are three popular options for parent college loans:
- Federal Direct PLUS Loans: A trusted government-backed option available since 1980. These loans feature fixed interest rates (6.31% in 2016-17), a 4.28% origination fee for the same year, and repayment over a 10-year period.
- SoFi Parent Loans: Established in 2011, SoFi offers competitive rates with APRs ranging from 2.95% to 6.13% variable, and 4.25% to 7.75% fixed. No origination fee, with flexible repayment terms of 5 or 10 years.
- College Ave Parent Loans: Features variable APRs between 4.03% and 6.03%, no origination fees, and flexible terms from 5 to 12 years.
Important Reminder:
The information here is compiled from research, data, and expert opinions. However, loan rates and terms may vary based on individual circumstances and lenders. Financial landscapes change over time, so consult with a financial professional before making borrowing decisions. We do not guarantee the accuracy or applicability of the information provided.
