My plus loan interest rate is 8.5% and it is fixed interest rate so is private loan better than fed. plusloan?
My plus loan interest rate is 8.5% and it is fixed interest rate so is private loan better than fed. plusloan?
Top 2 Answers
Favorite Answer
in my experience, I have found that plus loans are better than private because unless your credit is realllllllllly good the interest on a private can be between 8-15%
0
A federal PLUS loan will be the fixed rate of 8.5%; however, if the school you child is attending has the direct PLUS loan program, you could get a rate of 7.9%. Be careful when taking out a private loan because the private lenders are currently not regulated – at least the federal loan is a guarantee. Hope this helps.
0
