<p>So me and my parents did the Parent Plus Loan last year. This year I was continuously denied for private student loans so I decided to do Parent Plus Loans again. I wanted to know, out of curiosity, if doing a second year of loans means that what is paid will be doubled or it will be the same pay out each month but more to be paying off? Thanks so much for your help!</p>
<p>I’m not sure I understand your question.</p>
<p>If you borrow twice as much…you will either be paying twice as much for the same number of years…OR you will be paying about the same amount for double the years.</p>
<p>If you stretch your payments to 20 years instead of 10, you will also be paying significantly more interest over your repayment period.</p>
<p>if you (or your parents actually) borrowed the same amount again, I would expect your payments to be as much again as before. So yes, probably double.</p>
<p>Hi! My dad got accepted for a loan for me. Does that mean my sister cannot get denied a loan through our mom so she can get the 4000 in Stafford instead? Our parents are divorced and one is re-married. </p>
<p>Our dad cannot take out loans for both kids</p>
<p>that is correct</p>
<p>“Our dad cannot take out loans for both kids”</p>
<p>What do you mean by this? That your dad cannot afford to take out loans for both of you, or that you don’t think he will be permitted by the lender to take out loans for both of you?</p>
<p>How much debt is your dad taking on for your total education, and how much does he expect your mom to take on for your sister’s? Maybe you and your sister need to find cheaper ways to get your educations.</p>
<p>Hi,</p>
<p>If a parent cannot afford to take out a plus loan, will their child still be eligible
for an additional $4,000 or is this only offered if the parent is denied the loan</p>
<p>Additional funds are available to the student only if the parent applies for and is denied the PLUS loan.</p>
<p>If this is an issue, look at the criteria for eligibility. With sufficient advance planning, a parent might be able to render him or herself ineligible.</p>
<p>It is only if the parent is denied the loan.</p>