Alternative Approaches to Paying for College
Before relying on education loans, parents should consider several alternative approaches to paying for college, from tuition installment plans to college savings plans to education tax benefits.
The Risks of Cosigning Student Loans
Cosigning private student loans can enable the student to qualify for a private student loan and/or obtain a lower interest rate. But, there are also risks associated with cosigning a loan. A cosigner is a co-borrower, equally obligated to repay the debt. Cosigning a private student loan can affect the cosigner’s credit.
Consequences of Parent Loans
Some parents borrow too much through the Federal Parent PLUS loan program and cosigning on private student loans. There are several good rules of thumb that relate reasonable parent debt levels to the parent’s income.
Thirteen Mistakes that Affect Aid Eligibility
Check out this list of thirteen common mistakes families make that affect college affordability and eligibility for student financial aid and learn how to avoid them.