Just like any other student loans, there are options to refinance PLUS Loans. In fact if you are consolidating other student loans, you may want to include your PLUS Loan in with those to get one monthly payment. Just like when you got your PLUS Loan, a credit check may be required. If you do not meet the credit granting criteria of the lender, you may need to add a cosigner to the loan. An advantage of refinancing a PLUS Loan is that you may be able to cut your interest rates and your monthly payments making the overall cost of the loan more affordable.
|Jennifer Mathes, Ph.D.|