Beware of Parent Plus Loans

jnm123
Tue, 16 Oct 2012 13:49:50 +0000

UpperValley–no two ways about it, colleges/universities are committed to perpetuate these PLUS loans, the lure of easy money now, but they (hah) don’t tell the parents about the hard payback later. It keeps them in business, and at the information sessions on college tours you will see as savvy as slickster as you’ll ever see in the business world. However, that doesn’t mean we have to fall for it, much like a 2-hour pitch for a timeshare, except you don’t get a 24" hibachi instead of a gas grill as promised (yes, that happened to me way back when! )

borghugh–agreed that payback methods on PLUS loans are ultra-flexible, to defer if need be OR to set up advance payments earmarked as ‘principal only’. Haven’t had the funds to take advantage of THAT yet, hope to once youngest is finished.