Here are the Current updates about the Parent PLUS Loan interest rate 2023-24.

Parent Plus loan interest rate

The federal Parent PLUS Loan interest rate is fixed for each loan disbursement.

Interest rates may vary for Parent PLUS Loans borrowed in different years.

It is based on the 10-year Treasury note auction rate and a fixed margin of 4.60 percentage points.

The current interest rate for Parent PLUS loans disbursed before July 1, 2023, through July 1, 2024, is 8.05%.

This is a fixed Parent PLUS loan rate, which will remain the same for the entire life of the loan.

For more information about the Parent PLUS Loan interest rate visit the Federal Student Aid website.

How to Apply for the Direct Plus loan for parents? Learn the complete steps...