As Federal Parent Plus Loan Interest Rate Soars, Why It May Be Time to Go Private

May 28, 2024 – In article for USA Today about how now may be the time to go private for loans due to federal parent PLUS loan interest rates continue to soar, Stacey MacPhetres, senior director of education finance at EdAssist by Bright Horizons shares her advice for parents.

Most large commercial banks like Chase, Bank of America and Wells Fargo have exited the student loan business, but other companies like SoFi and College Ave offer them now, said Stacey MacPhetres, senior director of education finance at EdAssist by Bright Horizons, known for its early education centers.

Also, “pay attention to looking at credit unions and state-run educational loan programs because they tend to have very, very attractive terms,” she said.

Read the full article here.