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 is the best Parent PLUS loan repayment option?

  • Parents often help their children cover college costs by taking on debt 鈥?often in high-interest federal parent PLUS loans. The best parent PLUS loan repayment option is the one that fits your family鈥檚 financial situation and goals, like repaying loans quickly, getting a manageable payment or qualifying for loan forgiveness.

  • 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

  • How long does it take to repay a Parent PLUS loan?

  • You helped your student get through college by taking out a Federal Direct Parent PLUS Loan. These loans, which are your responsibility to repay, enter repayment 60 days after full disbursement or 6 months after your student graduates or drops below half-time enrollment. There are several options for repaying Parent PLUS Loans. Standard Repayment

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