The Ultimate Guide to Parent PLUS Loans


The Ultimate Guide to Parent PLUS Loans

A Parent PLUS Loan is a federal student loan available to parents of dependent undergraduate students to help cover the cost of their education. The loan is borrowed in the parent’s name, but the student is ultimately responsible for repaying it. Parent PLUS Loans have higher interest rates than other federal student loans, and they are not eligible for income-driven repayment plans. However, they can be a valuable option for parents who need to help their children pay for college.

Parent PLUS Loans are important because they can help students pay for college who would otherwise not be able to afford it. They can also help parents save money on their children’s education by locking in a low interest rate. Historically, Parent PLUS Loans have been a popular option for parents, but they have become less common in recent years due to the rising cost of college and the availability of other financial aid options.

Read more