Consolidating parent plus loans to student
There are many Parent PLUS loan refinance programs being created in wake of the success private lenders have had with refinancing regular student loans.
Keep an eye out for them in case you’re not eligible for these.
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If you haven’t been struggling with paying back your PLUS loans, then losing these benefits might not concern you, but it’s a factor you should consider.
Otherwise, if you experience difficulty making payments, you should reach out to your lender to see if any other payment arrangements can be made.
However, you should do the math to make sure refinancing is worth the paperwork.
If you extend your repayment term, you’ll have a lower monthly payment, but you’ll pay more over the life of the loan due to the amount of interest that will accrue.