If you're a parent considering a PLUS loan to help pay for your child's education, read on for everything you need to know first.

Federal student loan borrowers who are undergoing active treatment for cancer may defer repaying their Federal Direct student loans for the duration of treatment and for 6 months afterward. Interest does not accrue on any Federal Direct student loans during the active cancer treatment deferment, not even on unsubsidized Federal Direct Stafford loans.

More than 15,000 children are diagnosed with cancer each year. An even greater number of parents of college-age children die of cancer. Cancer is a source of stress on a family, both financial and non-financial. Cancer drains family resources that otherwise could help send their children to college. Cancer scholarships can help alleviate some of that stress.

A study from Fidelity shows more parents are saving for college than ever before, but they are still confused about how 529 savings plans work. By missing out on these key benefits, including federal (and sometimes state) tax savings, and favorable financial aid treatment, they could be leaving money on the table.