Consolidating parent plus loans

This compensation may impact how and where products appear on this site (including, for example, the order in which they appear).Magnify Money does not include all card companies or all card offers available in the marketplace.To provide more complete comparisons, the site features products from our partners as well as institutions which are not advertising partners.While we make an effort to include the best deals available to the general public, we make no warranty that such information represents all available products."Advertiser Disclosure Thursday, December 22, 2016 The editorial content on this page is not provided by any financial institution and has not been reviewed, approved or otherwise endorsed by any of these entities.Ideally, you should find a lender willing to refinance your loan on similar terms with a lower interest rate.

Additionally, if you’re trying to retire sooner rather than later, extending your term might not be in your best interest.

Thankfully, most student loan refinance programs and Parent PLUS refinance programs don’t have fees associated with the loan, so you don’t need to worry about paying origination or application fees.

However, you should do the math to make sure refinancing is worth the paperwork.

Beyond interest rates, you should also be aware that refinancing your Federal Direct PLUS loan means giving up several benefits specific to Federal student loans.

Private lenders don’t offer the same repayment assistance, though some lenders are more flexible than others.

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