Best for flexible repayment terms: College Ave Parent Student Loan Best for federal benefits Federal Parent PLUS Loan Learn More Cost 4.228% of the loan amount for loans disbursed on or after Oct. 1, 2020 Eligible loans Direct PLUS loans, PLUS loans for graduate and professional students, pa...
What to Consider When Choosing a Parent Loan for College Before you start shopping around for parent loans, it's important to consider whether borrowing money is the right decision. "Parents need to think about how the additional parent debt impacts their own financial goals," says Matthew Car...
Federal Parent PLUS Loan 5.0 NerdWallet rating Min. credit score None Fixed APR 9.08-9.08% Variable APR N/A Viewdetails Key facts Federal PLUS loans are available to parents of undergrads as well as graduate students. They are best for parents who may need the safety net they offer, like ...
College Ave: Best School Loans for Parents of Undergraduate Students Rhode Island Student Loan Authority (RISLA): Best School Loans for Single Parents Earnest: Best College Loans for Parents with High Income Ad Cover your college expenses with a Student Loan, so you can focus solely on your gr...
Borrow responsibly: We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Students and families should evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a...
Who is eligible for a Parent PLUS loan? Out of all the federal student loans, Parent PLUS loans are the only ones where parents — not students — take out a loan to pay for their child's education costs. Both parents and children need to meet requirements to borrow this loan. Here's...
Direct transfer of Parent PLUS loans to students isn’t possible through federal programs. Refinancing with private lenders can shift the loan to the student’s name but comes with risks and requires the ability to qualify for a private loan. ...
Private loans aren't eligible for income-driven repayment or federal student loan forgiveness programs. Private lenders may have their own hardship programs, like forbearance or deferment. Parents who want to help their children pay for college may have invested in a 529 college savings ...
Should you take out a parent student loan? Parent student loans may be a good option for parents — especially those with solid credit scores — to assist their child in paying expensive college costs. But it also requires a great amount of responsibility, since you'll be solely responsible ...
Parent PLUS loans are loans to parents to use to help their children pay for college. To qualify for a Parent PLUS loan, you must complete an online application, go through a credit check, and ensure your child has completed the FAFSA. ...