Federal loans, what??

mom2collegekids
Mon, 02 Aug 2010 17:48:34 +0000

I may be assuming too much, but it sounds like your parents’ income is not very high since they aren’t paying much for EFC.

What was their EFC? Are they paying for that?

I’m also concerned that they/you won’t be able to “pay down” much of that Plus loan during your college years. They may be only able to make “interest-only” payments leaving the $92k for after graduation.

If your parents make monthly payments on the debt, how much do they say that they could pay each month?

Keep in mind that you won’t ONLY owe the $92k, you’ll also owe the $27k from Stafford loans. And, school costs go up EVERY year.