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The Hill reported in June that, according to the latest data from the Department of Education, parents of 3.6 million students owe more than $107 billion in Parent Plus loans as of March 2022.
Consolidating also makes income-contingent repayment plans for Parent PLUS loans an option. Just remember, if you’re working towards any forgiveness programs, consolidation may reset the clock ...
Parent PLUS borrower deferment for parents who received a Direct PLUS Loan to pay for their child’s education, and the student is enrolled at least half-time at an eligible college or career school.
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".
President Joe Biden announced his administration's much-anticipated plan for student loan forgiveness on Aug. 24. Student Loan Cancellation and Payment Pause: Live UpdatesMore: Student Loan ...
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.
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