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UCONN Parent Plus Loans vs Student Loans / Humanities Programs

humanities02humanities02 0 replies1 threads New Member
My financial aid package offers a 14k parent plus loan per semester. I was wondering if there is a way for me to take out the loan under my own name because I am unsure if my parent will be able to pay the loan on their behalf. Can I just take out loans under my name and have a family member cosign me?
I was also wondering how are the humanities programs at this school? Specifically sociology, philosophy, and psychology. I know that law schools care more about the grades than the major, but I am unsure of which of these majors best fits me.
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Replies to: UCONN Parent Plus Loans vs Student Loans / Humanities Programs

  • cshell2cshell2 1060 replies11 threads Senior Member
    28K/year in parent plus loans in addition to your Stafford? I don't see how whether or not it's a parent plus or a cosigned private loan matters, this school does not appear to be remotely affordable to you, especially if you are considering going to law school as well.
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  • thumper1thumper1 77957 replies3488 threads Senior Member
    No you cannot take the Parent Plus Loan in your name only.

    You can take a $5500 Direct Loan in your name only.

    How much can your parents pay for you to attend college per year?

    Are you instate for UConn? If so, did you apply to Eastern, Southern, Western or Central which are a lot less costly than UConn?
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  • twoinanddonetwoinanddone 24499 replies19 threads Senior Member
    There is a difference between a private loan and a PLUS loan. You (the student) can apply for a private loan and have a co-signer. Sometimes the rate is lower than a PLUS loan but the benefits are different too. PLUS loans have forgiveness on the death of either the parent or the student. On March 13 the dept of education suspended interest on FEDERAL student loans, so the Plus loans get this benefit and the private loans do not. Plus loans have a large origination fee and some private loans have no origination fee.

    But really, borrowing $28k per year is not a sustainable plan. Pick a different school.
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  • NJdad07090NJdad07090 549 replies8 threads Member
    I have to assume your out of state, also I assume in your aid package is a federal loan that you can take $5500 year one and goes up from there, so in theory you leave with 25k in student loan debt owed to Uncle Sam. SO you want to be in debt to the tune of 125,000 BEFORE Law School, what other schools have you been accepted to? What is your state flagship? The money at UConn does not work for you, esp if you think your parents can not pay the parent loan.
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  • coolguy40coolguy40 2881 replies8 threads Senior Member
    If you're worried that mom and dad can't pay back the money, then they have no business taking out a $100,000 parent-plus loan. If they can't afford a $100,000 loan for college, what makes you think you'll be able to afford it? You can't afford to go to UConn. You'll need to find something more affordable.
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