I tried to refinance my parent plus loans, and they have sent me a pre-qualified letter. Come to find out they discriminate big time!!!
I have great credit and a low debt to income ratio and make approx. $300K per year. They won’t give me a loan because I didn’t go to college. I am paying for my son’s college and make more than the person that turned me down does probably. This is true discrimination!!!! I have been on my own since I was 12 and wasn’t given the opportunity to go to college and because of this they don’t deem me loan worthy. It is the same as sexual and racial discrimination. College isn’t for everyone. Let’s see how a class action suit does for them.

Ideally, you won’t have to cosign the loans, and your son can refinance the loans on his own. Splash is definitely a worthwhile option to consider based on their advertised rates and borrower satisfaction.

However, I’d encourage you and your son to shop around and check rates with at least 3-5 lenders to make sure you are getting the lowest possible rate. The refinance page should help you find lenders to consider and provide some tips on finding the best loan.

Hi Paul, Thanks for the insight and keep us posted on how it works for you going forward.