How Much is Too Much?

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How much is too much?

Some colleges will offer the student a "Parent Plus Loan" to fill the gap between the 5,500 max federal student loan and the total cost of tuition. This loan is at a very expensive interest rate of 7.44%. You can find other loans like Discover Card student loan at 5.4% (if you have good credit). You might try refinancing your home? That interest rate is about 3.2% and you can right off some of the interest on your income taxes.

Jay Johnson more than 3 years ago

RE: How much is too much?

Thanks Jay! We'll have to keep your comment in mind when we publish future stories about college loans. Those seem like some great alternatives to getting the Parent PLUS Loan. more than 3 years ago

$500 Scholarship