Parent PLUS loan refinancing
GPTKB entity
Statements (34)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
Student Loan
|
| gptkbp:application |
online application
credit inquiry income documentation loan payoff by new lender |
| gptkbp:appliesTo |
gptkb:Parent_PLUS_loans
|
| gptkbp:borrower |
parent of student
|
| gptkbp:cannotBeUndone |
once federal loan is refinanced, cannot return to federal program
|
| gptkbp:cause |
lower interest rate
shorter or longer repayment term |
| gptkbp:creditImpact |
may affect credit score
|
| gptkbp:effect |
loss of federal loan forgiveness eligibility
loss of federal protections loss of income-driven repayment options |
| gptkbp:eligibility |
credit check required
income verification required |
| gptkbp:fareControl |
may include origination fee
no prepayment penalty (typically) |
| gptkbp:filingMethod |
5 to 20 years (varies by lender)
|
| https://www.w3.org/2000/01/rdf-schema#label |
Parent PLUS loan refinancing
|
| gptkbp:mainInterest |
fixed or variable
|
| gptkbp:maximumLoanAmount |
varies by lender
up to total loan balance |
| gptkbp:notOfferedBy |
gptkb:U.S._Department_of_Education
|
| gptkbp:offeredBy |
banks
credit unions online lenders |
| gptkbp:performedBy |
private lenders
|
| gptkbp:purpose |
to change loan servicer
to lower interest rates to reduce monthly payments |
| gptkbp:transferredTo |
student (in some cases)
|
| gptkbp:bfsParent |
gptkb:SoFi_Parent_PLUS_Loans
|
| gptkbp:bfsLayer |
8
|