The Federal Plus Loan program can help
Posted on August 24, 2007 in the Parenting category
Right now I am quaking in my britches. I have two sons (so far, perhaps more someday) that will, sooner than we expect, need money for college. We fully expect that our children will get oodles of scholarships and grants, etc. However, we are not delusional enough to think that we are off the hook just because we have a couple of Einsteins.
Just as Mary and I had to do, our children will most likely have to get some loans for college. Though we are not really looking forward to it (and no matter how well we save and plan before hand) we will probably be looking into the federal plus loan program. Just in case anyone is confused by the TONS of different terminology, this is also known as the parent plus student loan. Either way - it is a loan that the parents take out on behalf of the student. Usually you get a pretty decent rate and good terms. Its another tool needed for your arsenal.
Perhaps we could hold out for that full sports scholarship!
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