Parent PLUS Loan vs Private Student Loans

[@kaitlynolinger893]

So which would you recommend?

[@danielvaughn5950]

That really does depend on your specific circumstances and financial situation. The only way to answer that is weighing all of the factors and then deciding what is best for you, allows the lowest interest rates and best payment plans.

[@lisagosweiler6222]

So though you would need to consolidate following graduation - or last loan dispersement - parent plus borrowers do have access to IDR plans as well as PSLF and Long term forgiveness plans. Weighing those options before taking out any student loans is important - financially speaking it can be an incredible difference in the actual repayment vs the standard repayment for federal loans. If forgiveness plans are an option for the parent plus borrower interest rates and origination fees may be irrelevant. Obviously tax ramifications for long term forgiveness options need to be assessed - but in the end many parent plus borrowers are much better off participating in a forgiveness plan rather than using the standard repayment plan or refinancing into private loans after college is complete. If a borrower is likely to benefit from forgiveness in some way - taking out the parent plus loans initially gives them the option to access those plans or refinance in the future. If it turns out they would have benefited and they went the private route from the start - they have eliminated those forgiveness options. Which could be an extremely costly mistake.

[@heatherdoyle9578]

Do you think parent plus loans will be forgiven with the art institute forgiveness?

[@candicebien6690]

Great vid thanks!

[@marveymarv]

thanks!

[@LolitAllisLol]

Terrible intro jesus