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Parent Plus loans -- also known as a Direct PLUS Loan -- are issued by the federal government and let parents of dependent students borrow funds to help pay for a student's college or career ...
A PLUS Loan is a student loan, which is part of the Federal Direct Student Loan Program, offered to parents of students enrolled at least half time, or graduate and professional students, at participating and eligible post-secondary institutions. The original, now obsolete, meaning of the acronym was "Parent Loan for Undergraduate Students".
This rate is fixed for the life of the loan, and is currently lower than the 8.78 percent average rate for home equity loans. But consider that Parent PLUS loans come with a loan fee of 4.228 ...
The FFELP offers four types of loans: the subsidized Federal Stafford Loans, unsubsidized Federal Stafford loans, the Federal PLUS Loan for graduate students and for parents of dependent undergraduate students, and consolidation loans. [3] The main federal student loan is the Stafford Loan. There are two types of Stafford loans: Subsidized.
As a parent, you have two main choices for parent loans for college students: federal parent PLUS loans or private student loans. Parent’s Guide to Applying for Private Student Loans Skip to ...
However, if a Parent PLUS Loan is consolidated into a Direct Consolidation Loan, then the Direct Consolidation Loan may be repaid under the ICR Plan. [3] Eligible loans for the IBR Plan are all loans made under the Ford Program and Federal Family Education Loan Program except for Parent PLUS Loans. Unlike ICR, Parent PLUS Loans cannot be ...
The parents of dependent undergraduates can use a Direct PLUS Loan, commonly referred to as a Parent PLUS loan, to borrow up to the cost of the student's attendance each year with no limit on the...
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