PLUS Loans

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

Can I get an alternative student loan?

PLUS Loans

The cost of a college education is steep, and it continues to rise on a regular basis. Sometimes the money awarded through federal financial aid is not enough to pay all of your educational costs. To help pay those college bills, some parents turn to a Parent Loan for Undergraduate Students (PLUS). Your school may participate in one of two programs either one funded directly through the U.S. Department of Education or the Federal Family Education PLUS Loan (FFEL). In the case of the latter, your funding would be obtained through a private lender that your parents would contact directly. These loans do require a credit check, so a parent with negative credit would be required to have a cosigner that meet credit criteria in order to qualify.

   

Comments

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



Name:


URL: (optional)


Comment:


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