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Parent Plus Loans

All articles tagged with #parent plus loans

education18 days ago•6 min saved

New America Report Claims Marquette Redirects Low-Income Families Toward Risky PLUS Loans

A New America report names Marquette University among 41 colleges allegedly steering low-income families toward high-interest Parent PLUS loans while granting aid to wealthier students; the study notes 34% of Pell Grant recipients who left or graduated in 2020–21 also borrowed PLUS loans, with an average debt of $30,089, while the university awarded about $22,000 in non-need-based grants. Marquette says the PLUS loan option is shown separately to help families understand options and cites affordability efforts; experts warn that financial‑aid leveraging can drive up costs and reward wealthier families.

via WPR|

#college-affordability #education #financial-aid

education5 months ago•0 min saved

Recent Changes to Student Loans and Their Impact on College Funding

Changes proposed by Trump to Parent Plus student loans could restrict college options for students by potentially increasing borrowing costs or limiting access, impacting families like Julie Wake's who rely on these loans to help cover college expenses.

via The Washington Post|

#college-expenses #education #financial-aid

education2 years ago•7 min saved

"Maximizing Parent PLUS Loan Forgiveness: The Borrow and Die Strategy"

Some parents are considering a "borrow and die" strategy for Parent PLUS loans, aiming to avoid repayment by reaching retirement age and qualifying for $0 monthly payments until death or loan forgiveness. While this approach may increase family generational wealth, it is complex and risky, and may not work for all families. Parent PLUS loans have higher interest rates and no borrowing limits, making them an attractive but potentially burdensome option for financing college education. However, there are alternative strategies to consider, such as community college, scholarships, and income-driven repayment plans, to mitigate the financial impact of college tuition and fees.

via Forbes|

#college-tuition #education #generational-wealth

student-loans2 years ago•6 min saved

"Updates and Challenges in Student Loan Forgiveness and Repayment"

The Biden administration's IDR Account Adjustment initiative will result in accelerated student loan forgiveness for many borrowers. The Education Department has released new guidance that expands eligible loan periods that can count toward loan forgiveness, including Parent PLUS loans and recent default periods. Consolidation can also accelerate student loan forgiveness. The IDR Account Adjustment will be implemented automatically for borrowers with government-held federal student loans, and discharges are expected to begin later this year. House Republicans are moving forward with plans to repeal several Biden administration student loan forgiveness initiatives.

via Forbes|

#education-department #idr-account-adjustment #loan-consolidation