PLUS is the abbreviation for Parent Loans for Undergraduate Students. This type of loan will help your children with up to 100% of his/her college expenses and a low-interest, fixed-rate opportunity.
You can assist your kid to pay not only for tuition and residential college, but also for many other school-related costs such as fees and books. PLUS loans are not grounded on financial income or need, so you cannot be rejected for making too much or too little money.
Federally assured PLUS loans is a bright financial plan for parents having their children as undergraduate students—they may assist families to meet college expenses at generous terms and below-market rates. Federal PLUS Loans provide the opportunity for eligible parents for college funding, which serves as an option to dip into the family investments or have a loan against a home.
1. Permanent, low rate of interest of 8.5%;
2. Loan amounts, which cover up to 100% for your child’s college education cost;
3. Available during the whole the school year—even though you have already disbursed tuition and other educational costs, so you can apply for a PLUS loan any time!
4. Suitable for federal loan consolidation;
5. Tax-deductible interest;
6. Quick application process.
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