Advertiser Disclosure

Three College Loans For Parents

Three College Loans For Parents Finance

Sending your kids off to college can be an entire journey in itself. However, it can also be an expensive one. With the growing economy, so are all the other expenditures and college tuition fee is no exception for this. The fee for college is going so abnormally high that student loans and parent loans for college fee payment have become extremely normal. The percentage of parent federal PLUS loan borrowers has grown to become a staggering 385% between 1989-90 and 2011-12, which started from a mere 4.1% of all the federal student loan borrowers to 19.9% as per a report. However, it is important that when you apply for a college loan for parents you make your plan properly so that it doesn’t interfere with the plans of your retirement and in a way that you can receive maximum benefits. Analyze parent student loan rates properly before making the final decision. Here are some of the options you can refer to:

  • Federal Direct PLUS loans: It is one of the most reputable options one can seek for a parent loan as it comes from a reputable lender. The government has been known to be lending the parent PLUS loans since 1980. It comes with 6.31% fixed interest for 2016-17, 4.28% origination fee for 2016-17 and extends for a 10-year long term.
  • SoFi parent loans: It has been established only in 2011, but is still quite known for providing the parents with some of the lowest interest rates available in the market. It has a variable annual percentage rate that goes between 2.95% and 6.13%; with a fixed APR of 4.25% to 7.75%. Absolutely no origination fee is required and the loan terms can be chosen for a time period of 5 or 10 years.
  • College Ave parent loans: The APR is variable and can lie between 4.03% and 6.03%. Just like SoFi parent loans, absolutely no origination fee is required and the loan terms can extend from 5 years to 12 years.

Important tips on Public Service Loan Forgiveness

If you get a student loan forgiveness, then you can end up saving on thousands of dollars from student loans. If you take up a job in public service, then you may qualify for a Public Service Loan Forgiveness. Here are some important tips you need to...
Dental Insurance

The Pros And Cons Of Dental Insurance

Dental care is not just about preventing cavities but it's actually a vital part of one's overall health. When you have dental insurance, it helps to ensure that you and your family get the care you need at the prices you can afford. There are many d...

Easy Financing Options For Toyota Cars

The Toyota dealer services offer best of car deals which most of the car-lovers approve happily. Toyota car has become a craze in the US where the car-loving community prefers the high-quality Toyota cars at affordable prices. The Toyota dealership c...