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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".
For the 2021-2022 school year, the Parent Plus loan has a 6.28% interest rate plus an origination fee of 4.228%,” according to the website. Discover: Do’s and Don’ts of Dollar Store Shopping ...
If you’ve decided to take out loans to pay for your child’s schooling, you’ve likely heard about parent PLUS loans, a popular option for parent student loans. Basically, parent PLUS loans ...
If you’re looking for a student loan to help your child pay for college, you have two options: a private or a federal student loan. SoFi Parent Loan vs. Parent PLUS Loan: Which Is the Better Option?
Parent loans allow parents to take out student loans, the repayment of which will be their responsibility. The parents use these loans to pay for educational expenses on behalf of the student. For undergraduate students, there is the parent loan for undergraduate students or PLUS Loan. This loan allows parents to borrow up to the total cost of ...
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