Why do colleges push the Parent PLUS loan above others

lookingforward
Sat, 04 Apr 2015 15:39:12 +0000

The PP doesn’t start payments til the following spring. One year’s loans don’t disqualify you, as debt carried, for the next year’s. In reality, a plus and a minus. I’d say, keep the amount as low as possible and don’t be fooled by what can seem doable first year. By spring of senior year, those payments add up.

The school can allocate the amount. Afaik, all they know is you qualified. There’s an old adage not to borrow against retirement. Ie, don’t cash in the plans or hock the house. You really have to know what you’re doing, what you will pay each month, as the years go by- and how you will pay that- to make this make sense. “Nothing in life is free.” Or easy.