Paying the Bill & Borrowing Toolkit
Your Guide to Managing College Costs and Smart Borrowing (Undergrad)
Federal Parent PLUS Loan Update (2026–2027): Under the One Big Beautiful Bill Act, new Parent PLUS borrowers are now subject to an annual limit of $20,000 and a lifetime aggregate limit of $65,000 per student. The current interest rate is 8.94% with a 4.228% origination fee.
If your funding gap exceeds these new federal limits, or if you have strong credit, private loans may be your best path forward. Private rates currently start under 3% with no fees. We always recommend utilizing the Federal Direct Student Loan (FDSL) first—scroll down for our step-by-step guide to choosing your best option.
Step-By-Step Guide to Choosing the Best Student Loan in 2025:
Step 1: Apply through College Ave to get your rate.
- Apply in 3 Minutes
- Soft Credit Pull
- Reputation for rewarding high FICO scores
Step 2: Apply through Sofi Student Loans to get your rate.
- Apply in minutes
- Soft Credit Pull
- Reputation for rewarding high FICO scores
Step 3: Apply through Sallie Mae to get your rate
- Apply in minutes
- Hard Credit Pull
- Reputation for highly competitive rates.
Step 4: Compare your private rates to Federal PLUS & State Programs (Massachusetts , Rhode Island, Iowa)
Follow these steps above and you'll get a view of the loan rates and terms available to your family so you make an informed, thoughtful borrowing decision.
Featured Lender Spotlight
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Apply in as little as 3 minutes and get an instant credit decision
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Multiple repayment options from deferred to immediate principal and interest
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Choice of how long you take to repay the loan - 5, 8, 10, or 15 years
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0.25% interest rate reduction when you make required payments by automatic debit
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Borrow up to 100% of your cost of attendance (minimum $1,000)
- 100% Covered
- SoFi covers all school-certified costs—yes, everything is taken care of.
- No Fees
- No origination fees, no late fees, and no insufficient funds fees. Simple, clear, and fee-free.
- Save Money
- Save even more with a 0.25% rate discount for autopay and an additional 0.125% off for multiple loans supporting multiple kids in college.
- Cosign with Confidence
- After 12 on-time payments, students can apply to release cosigners from the loan.
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- No penalty or origination fee or penalty for repayment.
- Flexible in-school repayment
- Co-singor release after 12 months
- 0.25% rate discount for autopay
- No penalty or origination fee or penalty for repayment.
Prefer 1:1 Expert Help?
$299 $239 with Coupon Code LOAN20 for 20% OFF if you book by Midnight (7/18)!
Book a one-hour session for personalized support and expert advice on how to pay for college—with confidence and clarity.
- Reviewing financial aid forms & Evaluating award letters to explore possible appeals for more aid
- Breaking down the final bill & Strategizing how to best use 529 plans and other savings
- Comparing student and parent loan options using our proven process to help you secure the lowest possible interest rate
The 1-Minute Guide to Smart Borrowing
Top 3 Borrowing Tips:
1) Take Out The Federal Direct Student Loan: All you have to do is complete the FAFSA. PLUS, your student won’t need a co-signer, it allows them to establish credit & has a competitive fixed interest rate, it’s a no brainer!
2) Understand Your Family's Borrowing Criteria: Who should be on this loan (student, parents, both)? Do you want a co-signer release program? Does it have flexible repayment terms? What matters most to your family?!
3) Shop Around: Don’t take out the first loan you see, shop around and get your rate from multiple lenders before settling on just one!
Walkthrough: Loan Entrance Counseling
Walkthrough: Master Promissory Note
Borrow Smart Webinar Recording
Contact Us:
✉️ support@collegeaidpro