Why would a parent borrow from a Federal PLUS loan instead of a co-signing on a private loan in the student’s name?
A. Federal PLUS loans are federal loans with lower interest rates than many private loans. Parents who co-sign on a private loan are just as responsible for repaying the loan (usually at higher rates). In other words, whether the parent borrows from a Federal PLUS loan or co-signs for a private loan, their financial responsibility is the same.
• Federal PLUS loans are federal loans with lower interest rates than many private loans. Parents who co-sign on a private loan are just as responsible for repaying the loan (usually at higher rates). In other words, whether the parent borrows from a Federal PLUS loan or co-signs for a private loan, their financial responsibility is the same.
Related Questions
- Why should a parent borrow from a Federal PLUS loan instead of a co-signing on a private loan which is in the students name?
- Why would a parent borrow from a Federal PLUS loan instead of a co-signing on a private loan in the students name?
- Why would a parent borrow from a Federal PLUS loan instead of a co-signing on a private loan in the student’s name?
