The worst thing the plus loan does is it charges you a lot of money and gives you half of what you need. A lot of people go for the plus loan because you've been denied elsewhere.
What the plus loan should do is accept ALL applicants -- or, instead of just giving $4,000 in Stafford loans they should consider giving $6,000 in Stafford loans.
joeshmoof NH4:20PM August 16, 2011
First, you pay 4% up front, then 8% interest for the entire time you have the loan unpaid, so if you wait for the end of 4 years, you have a much bigger pile of cash. And where does the interest go? I'm assuming to pay for Obama's golf outings and his creation of big government, and probably to forge his identity papers so he can rule the world. I won't be bending over for this loan.
Bobof TX4:13PM August 05, 2011
PLUS loans are a bad deal. Many banks offer loans with less interest, or even a line of credit against the house. Don't borrow money for your kid's education if you can help it.
NeedyCollegeStudents.com
Chrissy Cof AZ6:14PM November 08, 2010
If a single parent takes out a Parent Plus Loan for their child, does this in anyway affect your credit as far as being overextended on your credit?
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joeshmo of NH 4:20PM August 16, 2011
Bob of TX 4:13PM August 05, 2011
Chrissy C of AZ 6:14PM November 08, 2010
Cindy of PA 11:06AM November 08, 2010