<p>I was filling out the Dartmouth Verification page and whatnot to send into IDOC, and on the back side where it asks you to answer “yes” or “no” to the two statements my family and I were very confused. My parents dont really have any experience with this and my dad was freaking out about the PLUS loan and was going on about how he didnt want to sign something he knew nothing about. If anyone here can please expalain to me those two statements abouts loans on the end of the IDOC it would be greatly appreciated.
Thank You</p>
<p><a href=“http://studentaid.ed.gov/PORTALSWebApp/students/english/parentloans.jsp?tab=funding[/url]”>http://studentaid.ed.gov/PORTALSWebApp/students/english/parentloans.jsp?tab=funding</a></p>
<p>Plus loan interest starts accruing when funds are disbursed or constructively received - unlike some other loans where interest starts accruing after you are done with your schooling.</p>
<p>hmm that looks like i should check a no…?</p>
<p>First of all, checking a box that says your parents would consider taking out a Plus loan to finance their contribution doesn’t mean they have to take out a Plus loan. You never commit to a loan unless you sign the actual loan document. If your parents don’t have money available at the moment to pay their EFC, however, a Plus loan is a great option. The interest rate is low and the payout is really flexible. Almost everyone with a decent credit rating qualifies. Tell your dad not to worry. It’s a really common way for families to pay for college. We have a Plus loan this year (older sibling) and it’s been great.</p>
<p>Thanks very much :)</p>