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Direct PLUS Loan: The direct PLUS loan is a federal loan that graduate or professional students and parents of undergraduate students can use to pay for their education. These loans can be used to help pay for education expenses not covered by financial aid. The Direct PLUS loan is not based on financial need, but credit is necessary.
With tuition rising each year, students and their parents are often faced with a gap between college costs and available resources, even after financial aid. Getting started early and filing the ...
These loans place the debt in the parent’s name, with the liability on them. The terms of the loan are clear from the start, and this may work well if all goes as planned.
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".
Beginning on July 1, 2020, Wells Fargo parent loans are only available to borrowers who already have an outstanding balance on a Wells Fargo private student loan. If you’re not already a Wells ...
PLUS loans are federal education loans made to parents. [79] These have much higher loan limits, usually enough to cover costs that exceed student financial aid. Payments start immediately after education ends, although prepayment is allowed. Credit history is considered; thus, approval is not automatic.
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