do you have to pay back a parent plus loan

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  • Should you take out Parent PLUS loans?

  • When taking out parent loans, aim to minimize how much you pay overall. That could mean paying the interest while your child is in school or refinancing PLUS loans right away. If you can鈥檛 pay parent PLUS loans, enrolling in the Income-Contingent Repayment plan should provide a more manageable payment.

  • What are my repayment plan options for Parent PLUS loans?

  • Repayment plan options for Parent PLUS loans include鈥疭tandard, Graduated, Extended, or Income-Contingent. Learn more about ICR and staying on track with income-driven repayment. Consider pros and cons before refinancing, and don鈥檛 use credit cards or home equity to pay your student loans.

  • How much can you borrow from your parents if denied plus?

  • Students whose parents can鈥檛 get PLUS loans can gain access to more federal student loans. A dependent first-year student can only borrow up to $5,500 in federal student loans per school year, for example. But that limit goes up to $9,500 if the student鈥檚 parents were denied PLUS Loans. Repaying Parent PLUS Loans

  • What if I Can鈥檛 pay my PLUS loans?

  • That could mean paying the interest while your child is in school or refinancing PLUS loans right away. If you can鈥檛 pay parent PLUS loans, enrolling in the Income-Contingent Repayment plan should provide a more manageable payment.

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