Parent PLUS loan fee: 4% on MPN vs 2.9%

Paying for College
1

<p>I was going through the Master Promissory Note for the Parent PLUS loan. Every document I have shows that the origination fee is 2.9%. But when I went through the Terms & Conditions part of the MPN, it says there's a 4% "loan fee." I'm confused.</p>

<p>Has anyone encountered this? I believe I'm in the right web site (studentloans.gov, parent plus loans).</p>

2

<p>For 2010-11 PLUS direct loans, the origination fee is 2.5% (4% minus a 1.5% rebate).</p>

3

<p>Thanks, kelsmom! Didn’t see anything about a rebate, but the note is pretty long.
Glad you cleared that up.</p>