Parents Are a PLUS

Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Federal Student Loan Overview and other Student Loan topics.

Have you looked into a PLUS loan to help out your child?

Parents Are a PLUS

Parents with a good credit history can help their child through college with the federal Parent PLUS Loan. This is a loan that allows parents or legal guardians of an eligible student to borrow their child's remaining cost of attendance minus any other financial aid.

This loan is credit-based and requires a credit check. The federal Parent PLUS loan can't be transferred to the student after graduation. It's a loan designed specifically for parents or guardians and must remain in their name. This is a viable option for those with a good credit history when they have maximized their need-based financial aid but can't afford to pay the remaining cost of college on their own.



Nobody has commented on this tip yet. Be the first.


URL: (optional)


Not finding the advice and tips you need on this Student Loan Tip Site? Request a Tip Now!

Guru Spotlight
Jennifer Mathes, Ph.D.
Buy My Book