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Kiplinger
Kiplinger
Business
Ella Vincent

MYSTERIOUS: Plus loans can help pay for college at a cost | Mind Blowing Facts

Interest Rates Mark Kantrowitz Financial Aid
A college student sits in cap and gown ready to graduate.

As the cost of college continues to rise, it’s not unusual for parents to discover that student loans, financial aid and savings won’t cover all their child’s expenses. Parent PLUS loans provide a way to bridge the gap, but rising interest rates have made these loans a costly option. 

The rate for federal parent PLUS loans taken out between July 1, 2024, and June 30, 2025, is 9.08%, a 33-year high. The rate is fixed for the life of the loan, even if overall interest rates decline. Borrowers must also pay a 4.228% origination fee. 

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