What repayment types are available for Parent Loans? July 31, 2020 22:04 Updated For Parent Loans, you can choose Full Immediate Repayment or Interest Only Repayment. Related articles What’s the difference between cosigning a loan for my student and taking out a parent student loan? Why was my SoFi Private School Loan application declined? Do Parent Loans have a grace period? When do my payments begin for the parent student loan?