Topic: Parent PLUS Loans
Demystifying the FAFSA
By John Whelan, Sophomore at Tufts University
What is the FAFSA?
The FAFSA. You might have seen that odd-looking, strange-sounding acronym before, somewhere during your planning-for-college process. Perhaps you heard your parents discussing it, and at the very mention of a form you shut your ears off.… More »
Tips on evaluating your financial aid award
Congratulations on getting into college! But now you're trying to evaluate your financial aid award, right? In order to know how good (or bad) it is, you need to consider a few things:
The cost of the college (called the… More »
Choosing Private Student Loans
By Kevin Walker, Co-Founder & CEO of SimpleTuition
We get asked all the time, "Where should I borrow if my federal loan isn't enough?" With television advertising, marketing mailings, and the hundreds of websites about supplemental student loans, sorting through all of the data to make an informed… More »
What types of student loans are included in an Income-Based Repayment plan?
Most federal student loans are included, such as:
Federal student loans through the Direct Student Loan Program
Stafford Student Loans
GradPLUS Student Loans
Federal consolidation loans that do not include Parent PLUS Loans
Perkins loans, if they have been consolidated… More »
Private loans – don’t call them “alternative”
By Kevin Walker, Co-Founder & CEO of SimpleTuition
One of the beefs I have with my own industry is some of the silly terminology we've come up with. My least favorite example is how private student loans - education loans from non-governmental sources - are sometimes referred to… More »
If I need money to pay college costs not covered by financial aid, what can I do?
Simply call the financial aid office at the college and request an unsubsidized student loan (if the student has eligibility remaining) and/or a PLUS loan (Parent Loan for Undergraduate Student) in whatever amount you need for that year. You may… More »
Tips on selecting a co-signer
"Co-signer" defined
A co-signer of a private student loan is someone who jointly signs the promissory note (or the contract between lender and borrower) for the loan. Even though the student is the primary borrower, and will receive monthly bills… More »
What is a PLUS Loan?
What is a PLUS Loan?
The Parent Loan for Undergraduate Students, or PLUS, is a low-interest federal loan that parents can take out on behalf of their undergraduate children to pay for educational costs.
PLUS loans
For parents with acceptable credit who need help paying for their child’s college, parent PLUS Loans can be a very good option. PLUS Loans are federal loans and currently have a fixed interest rate of 7.9%. These loans can help… More »
