By researching Parent PLUS loans, I learned that the parent alone carries the debt, there are fewer forgiveness options than other federal student loans and the loans carry a current interest rate of 8.05 percent.
So instead of taking out Parent PLUS loans, I secured a private loan with a much lower interest rate through my credit union.
I did my best to alleviate their worries, but my own student loan debt wasn’t reassuring.
Because of the combined costs of tuition and living expenses, some young people have opted to delay, drop out of or forgo attending college altogether to avoid student debt that could hang over them for decades.
In addition, the share of students who left college without a degree rose to 40.4 million as of July 2021.
Persons:
Alex
Organizations:
Parent