my son has college loans and I have 36,000 in Parent plus loans for him. Interest rates is 7.65. can we consolidate so all loans are under his name? or is there a way I can refinance them to get him a lower rate under my name?

Terry Says:  Well, this is complex.  The PLUS loans are YOURS — and as such, you have few options.  One choice is a second mortgage, or home equity loan.   Those would come at a lower rate, but potential variable rate.   You can also check at www.SoFi.com, where they refinance student loans for those who have graduated and have an income.  But they do refi some parental loans — IF the student is still in college.  Check with them regarding the specifics of your case — and look into the options for your son.

Just remember that when HE does a refi on Federal student loans, he may give up some options like Income Based Repayment plans and deferral if he refinances to a lower rate private loan.  He will have to wait until he has an income after graduation anyway to refi with www.SoFi.com.

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