Plus loans vs home equity/mortgage loans

milkandsugar
Wed, 28 Apr 2010 14:05:51 +0000

nkl811
We thought about doing a refinance, but when we really thought it out, The Plus is so much more flexible. We deferred our payments and if at a later time when it is time to pay off than we can always do a refi or deal with the monthly payments or request a lower monthly payment. If anything happens to the borrower or the student, it ends. If you should have a financial hardship,it can go into forebearance. A refinace, you are locked in and really don’t have too many options if your child drops out. Also, we wanted to leave the equity in the house, in case we needed emergency money,repairs, etc.