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: Best for Federal loan option for parents College Ave Parent Student Loan: Best for Private parent loans for college SoFi Undergraduate Student Loan: Best for Private parent loans for college Brazos Parent Loan: Best for Private parent loans for college Advantage Education ...
Parent Loans for College FAQs What is a Parent PLUS loan? A parent PLUS loan is a federal loan available for parents to take out on behalf of their dependent undergraduate student. You may use the funds for educational expenses and borrow up to the cost of attendance, less other financial ...
"The only borrower of a Parent Plus loan is a parent," Schwartz says. "The student has no legal responsibility to pay back this loan. With private student loans, the student is the borrower and the parent is a co-signer, so both share legal responsibility for paying back the loan." Pr...
If you’re a parent, you might be interested in helping your children attend college via a loan. Here’s what you need to know about federal parent PLUS loans.
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. ...
First, let’s review a bit about Parent PLUS Loans and how they work. These federal student loans are offered to parents of undergraduate students to help pay for the cost of attendance. Though the student loans pay for the child’s college expenses, the parent who took out the loan is ...
A Parent Plus loan, also known as aDirect PLUS loan, is a federal loan taken out by a parent to cover an eligible student’s college expenses. The student must be a dependent of the parent who is enrolled at least half-time at an eligible school. Generally, the borrower must be a bi...
Loan Program and the William D. Ford Federal Loan Program. Under this second program, there are parent loans for college students called Parent Plus Loans.Federal Grants are a need-based form of financial aid. The main differences between federal loans and federal grants are that grants do not...
The article discusses the Parent PLUS loan program, a federally financed loan initiative in the U.S. designed to aid low and middle-income parents in financing the college education of their children. The article examines how parents have been impacted by the U.S. economic recession in regards...