With the average student loan debt burden on the rise, it’s little wonder that loans often hold people back from pursuing their entrepreneurial goals. At SoFi, we’ve heard these stories time and again – friends, classmates and SoFi members who dream of starting their own businesses, but who feel trapped in a traditional job because they need to make that loan payment each month.
Read moreA Direct Consolidation Loan is a government program that allows you to combine multiple federal education loans into a single loan. The resulting interest rate is a weighted average of your prior loan rates. Refer to https://www.sofi.com/
Refinance Parent PLUS loans you’ve taken on to fund your kid’s education. You could save thousands and pay off your Parent PLUS loans sooner.
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Checking your rate will not affect your credit score.
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{/* Why refinance Parent PLUS loans with SoFi? */}
Competitive fixed interest rates could help qualified borrowers save more over time, including a discount with autopay2.
Pick the payment term that fits you best from our many options: 5, 7, 10, or 15 years.
You could reduce your monthly payment with flexible terms, and keep more money each month for other goals.
You could save more with no application fee, no prepayment fee, and no late fee.
View your rate
Checking your rate will not affect your credit score.
{/* Parent PLUS refinance terms that work for you. */}
Choose from competitive fixed or variable rates to make the right call for your refinance.
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Federally funded Direct PLUS loans, commonly called Parent PLUS loans, are taken out by parents to help dependent undergrads. When an undergraduate’s financial aid doesn’t meet the cost of attendance at a college or career school, parents may take out a Direct PLUS loan in their name to bridge the gap. Learn more.
Refinancing Parent PLUS loans could mean lower interest rates, flexible repayment options, or lower monthly payments. Just remember, you lose access to federal benefits when you refinance a federal student loan with Parent PLUS refinancing. Borrowers will need to meet credit and income requirements and other eligibility criteria.
Yes! Borrowers can refinance their Parent PLUS loan in their child’s name. The child will have to to go through the application process and be approved for the loan.
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If you’re looking to refinance Parent PLUS loans, you probably know that there are basic requirements for income and credit quality. But you may not be familiar with other Parent PLUS loan refinance criteria. Have a look before you apply to be sure you’re prepared.
Take a short quiz for a recommendation on a loan that meets your money needs now.
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2Fixed rates range from 4.24% APR to 9.99% APR with 0.25% autopay discount and 0.125% SoFi Plus discount. Variable rates range from 5.99% APR to 9.99% APR with a 0.25% autopay discount and 0.125% SoFi Plus discount. Unless required to be lower to comply with applicable law, Variable Interest rates will never exceed 13.95% (the maximum rate for these loans). SoFi rate ranges are current as of 12/16/25 and are subject to change at any time. Your actual rate will be within the range of rates listed above and will depend on the term you select, evaluation of your creditworthiness, income, presence of a co-signer and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases. You may pay more interest over the life of the loan if you refinance with an extended term.
Read moreThe following examples depict the APR, monthly payment and total payments during the life of a $10,000 private loan with a single disbursement.* All rates below are shown with the Autopay Discount (0.25%). There are no application or origination fees, and no prepayment penalties.
For variable rate loans, the current index rate is 4.03% and may change monthly. The current index for variable rate loans is derived from the 30 day average SOFR index, thus changes in the SOFR index may cause your monthly payment to increase. 5, 7, and 10 Year terms are capped at 8.95% APR, 15 Year terms are capped at 9.95% APR to the extent permitted under law.
Your actual interest rate may be different than the rates in these examples and will be based on term of loan, your financial history and other factors, including your cosigner’s (if any) financial history. State restrictions may apply.
| Terms | Rate | Repayment APR |
No. of Payments |
Monthly Payment |
Total Payments |
|---|---|---|---|---|---|
| 5 Year | 4.24% – 8.45% | 4.24% – 8.45% | 60 | $185.25 – $204.92 | $11,115.02 – $12,295.46 |
| 7 Year | 4.72% – 8.77% | 4.72% – 8.77% | 84 | $140.03 – $159.73 | $11,762.28 – $13,416.98 |
| 10 Year | 5.02% – 8.82% | 5.02% – 8.82% | 120 | $106.16 – $125.70 | $12,739.60 – $15,084.44 |
| 15 Year | 5.28% – 8.87% | 5.28% – 8.87% | 180 | $80.55 – $100.65 | $14,498.21 – $18,117.86 |
| Terms | Rate | Repayment APR |
No. of Payments |
Monthly Payment |
Total Payments |
|---|---|---|---|---|---|
| 5 Year | 5.99% – 8.70% | 5.99% – 8.70% | 60 | $193.28 – $206.13 | $11,596.89 – $12,367.84 |
| 7 Year | 5.99% – 9.02% | 5.99% – 9.02% | 84 | $146.04 – $160.99 | $12,267.16 – $13,523.35 |
| 10 Year | 5.99% – 9.07% | 5.99% – 9.07% | 120 | $110.97 – $127.05 | $13,316.43 – $15,246.59 |
| 15 Year | 5.99% – 9.12% | 5.99% – 9.12% | 180 | $84.33 – $102.14 | $15,179.70 – $18,385.52 |
Parent Plus Refinancing variable rate loans for 5, 7 and 10 Year terms are capped at 8.95% APR, 15 Year terms are capped at 9.95% APR.
Rates in this table reflect prices as of 12/16/25.
Questions? Call us for a free consultation at 855-456-7634
Refinancing student loans can be a great strategy for saving money when you’re done with school, but you can also take steps before even applying for loans that will pay off over the longterm.
However, getting accepted to an MBA program is challenging. So much so that by the time graduate students are admitted to a program, many of them want to secure the first funding options available without pausing to thoroughly assess all the options.
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