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Parent Plus Loan (1 viewing) (1) Guest
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TOPIC: Parent Plus Loan
#1043
et non (User)
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Parent Plus Loan 8 Months, 2 Weeks ago Karma: 1  
Is it ok to use a parent plus loan for something other than tuition?
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#1044
LK311 (User)
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Re:Parent Plus Loan 8 Months, 2 Weeks ago Karma: 0  
I don't mean to sound out of touch or ignorant, but what exactly is a parent plus loan?
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#1051
dyrah (User)
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Re:Parent Plus Loan 8 Months, 1 Week ago Karma: 0  
It is not permissive to use the loan proceed other than for educational purposes.
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#1086
dyrah (User)
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Re:Parent Plus Loan 8 Months, 1 Week ago Karma: 0  
Parent loan can be used only with reference to your child's educational expenses. It cannot be used to defray any other expenses.
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#1088
francism (User)
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Re:Parent Plus Loan 8 Months, 1 Week ago Karma: 0  
It is not allowed to use parent plus loan other than for educational purposes.
The parent plus loan was couched for a specific purpose, that is, the parents can borrow federally guaranteed low interest loans to help pay for their child's education.
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#1092
Tia A. (User)
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Re:Parent Plus Loan 8 Months, 1 Week ago Karma: 4  
Again, I am interested in what these loans are, how are these different than the federal loans that the children can borrow themselves while in school? Are the interest rates more favorable? Payback terms more favorable? Is this a loan a parent can take out if the child has exhausted they borrowing ability? Are these for children with poor credit ratings? I am just trying to get a handle on what these loans are? Thanks.
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