Paul Sisolak is a freelance journalist and writer whose personal finance articles on saving money, getting out of debt, improving credit and a host of other topics have appeared in the Huffington Post, U.S. News & World Report, Student Loan Hero, Chime Bank, and the Nasdaq blog, among others. A Tri-state area native, Paul lived in Los Angeles for a number of years, and now calls Miami home.
Pitfalls of Parent Loans
After a student reaches the federal student loan limits, parents can borrow to help their children pay for college through Federal Parent PLUS loans, private parent loans and by cosigning private student loans. These borrowing options, however, come with several potential pitfalls.
What Are the Tradeoffs of Federal and Private Loans for Parents?
When it comes to financing college costs, it’s important to find the right loan. After the student has exhausted the Federal Direct Stafford loan limits, there are several borrowing options available to parents, including Federal Parent PLUS Loans, private student loans and private parent loans. What are the pros and cons of these loans?