THREE MIN VIDEO. CIT’s Cozy Wittman lays out the pros, cons, and some caveats related to this loan. Parents: carefully examine how your college leverages the loan in your financial aid offer! What are the real numbers? If the Parent Plus Loan sits about 2.5 to 3 points higher than the federal loan, with a 4% origination fee and at a higher interest rate than the federal loan, is it really your next best option? How might you determine better options? This quick video offers clarification.