Choose how you want to pay it back
Interest repayment option
Get budget flexibility—make interest-only payments while your student is in school for up to 48 months, and then principal and interest payments for 10 years.
It will take longer to pay off your Parent Loan than with the principal and interest repayment option.
Principal & interest repayment option
You can pay off your loan faster by making principal and interest payments while your student is in school and your total Parent Loan cost will likely be lower, compared to the interest repayment option.
Your monthly Parent Loan payments will likely be higher while your student is in school, compared to the interest repayment option.
Note on loan refunds: The proceeds of the loan will be disbursed directly to the school on behalf of the student. Refunds will be handled within your school’s current process and in some cases, your school may refund loan funds directly to the student. If that occurs, the borrower and cosigner (if applicable) would still be responsible for repaying that amount.
Benefit from these Parent Loan features
Applying online is easy
is about all it takes to apply and get a credit result.
of customers would recommend our online loan application process.