WHAT ARE THE RATES AND FEES?
Parent PLUS Loans not only offer a great low rate, but the interest payments may be tax deductible, so consult with a tax advisor for complete details. As of July 1, 2006, the interest rate is fixed at 8.50 percent.
Standard Fees
Two fees are deducted from your loan funds and are included in the amount you will be responsible for paying back. A three percent origination fee is charged by the U.S. Department of Education, and a federal default fee of up to one percent may be charged by the loan guarantor. Wachovia will not charge any additional fees.
Special Savings for Pennsylvania Parents
If your child is attending school in Pennsylvania, follow this link to learn more about our Pennsylvania PLUS Loan savings program.
Ready to apply?
Use our fast online application or call us toll-free at (877) 689-0763.
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