New Lower Federal Parent PLUS Loan Interest Rate for 2019-20
Parents of undergraduate students can borrower Federal Direct Parent PLUS Loan more affordably starting July 1, 2019. The interest rate is 7.08%, which is .52% lower than last year's rate. Each year the May Treasury Bill auction rate creates the yardstick for the next year's the Federal Direct Student Loan interest rate. With the decrease in this May's auction rate, there will be a three year low for the Federal Direct Parent PLUS Loan.
Borrowing a Federal Parent PLUS Loan is cheaper starting July 1, 2019.
Colleen MacDonald Krumwiede is a financial aid and paying for college expert with over a decade of financial aid experience at Stanford GSB, Caltech, and Pomona College and another decade at educational finance and technology companies servicing higher education. She guides go-to-market strategy and product development at Quatromoney to transform the way families afford college.