All articles tagged with #parent plus loans
Originally Published 3 months ago — by The Washington Post
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.
Originally Published 2 years ago — by Forbes
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.
Originally Published 2 years ago — by Forbes
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.