Parent Plus Loan

The parent plus loan is part of the Federal Direct Student Loan program. This type of financial aid is for parents, who have students attending a qualified post-secondary institution and are obtaining their first undergraduate degree. In order for parents to apply for the Parent Loan, they must complete the FAFSA, which stands for Free Application for Federal Student Aid. This application takes into consideration the parents financial status and how much they are expected to contribute to their child's education. Parents who borrow a Parent Loan are held responsible to repay back this federal student loan in full. The student is in no way held responsible to pay back any part of the parent loan. It is up to the parent to make sure payments are on time and for the minimum payment. If parents are unable to make monthly payments then they run the risk of impacting their credit score. Parent Plus Loans offer very competitive interest rates for parents looking for additional funding for t
heir child's education. Current Parent Loan interest rates are 3.28% variable rate for all new loans established between 2009-2010. Parents are required to pay a fee of up to 4% of the loan, deducted proportionately each time a loan disbursement is made. The entire fee goes to the government to help reduce the cost of Federal Direct Loans. Parent loans are another option for students and parents if they have financial difficulties paying for a post-secondary education. To learn more about the Parent Plus Loan and how you can benefit from this type of financial aid, visit http://www.ParentLoan.org http://www.ParentPlusLoanApplication.com http://www.PlusLoanConsolidation.com

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