How to Transfer a Parent PLUS Loan to your Child

Federal Parent Plus loans are borrowed by the parent of a dependent undergraduate student to help the student pay for college. The Parent PLUS loan cannot be directly transferred from the parent to the child. Instead, there are a few options for shifting responsibility for the Parent PLUS loans to the child. But, parents should carefully consider the tradeoffs before adding Parent PLUS loans to the child’s student loan burden.

Read More

Featured Articles

Check out the Hot Topics we have covered recently.

How to Figure out Your 529 Plan “Glide Path”

While many 529 college savings plans offer standardized glide paths that reduce risk as the child gets closer to college, these paths are one-size-fits all.

Read more
How to pay off parent loans more quickly

Today’s parents are borrowing record high student loans to cover their children’s college costs. In turn, many are struggling to repay the large balances, forcing them into longer repayment terms. Following a few key strategies should help them repay their student loans more quickly.

Read more
How to get a Federal Parent PLUS Loan with bad credit

Parents of dependent undergraduate students can apply for a Federal Direct PLUS Loan to help cover the family’s share of college costs, beyond the financial aid package. Before applying for a Parent PLUS loan, it is important to understand how your credit history affects loan eligibility. Even if you do have bad credit, that does not mean you are automatically ineligible or unable to change that status.

Read more
529 plan gifts may be deductible on state income tax returns

One of the most effective ways to help a child save for college is by funding a 529 plan. Investments in a 529 plan grow tax-free and will not be taxed when the beneficiary uses the money for college. The gift giver may also qualify for a state income tax deduction or credit for 529 plan contributions, regardless of who owns the account.

Read more
See more articles