PLUSPVL Interest RateFixed; Changes each July 1. See our Loan Interest and Loan Fee Rates page for the updated number.Fixed and Variable; Initial rates are offered as a range until borrower completes initial data. Loan FeeChanges each October 1. See our Loan Interest and Loan Fee Rates page for the updated number.Most lenders do not have a loan fee, but may vary. Repayment ResponsibilityThe borrowing parentThe borrower, whether that is the student (and cosigner, if applicable) or parent. Approval RequirementsParent borrower must not have adverse credit history.Generally based off of an established credit score, however some lenders take other factors into account. Early Repayment PenaltiesNot penalized for early repaymentMost offer set in-school payment plans, however check with the lender for their specific requirements.