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Welcome » Plus vs Private

60% of students borrow money to pay for college. If you are here you are probably part of that percentage. Before we begin this discussion, please make sure that the student has exhausted all grants, scholarships, and Stafford Loans. What is the best option for our family? This site is a service of Collegiate Access Group and exists as an unbiased review of the above reverenced options.

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60% of students borrow money to pay for college. If you are here you are probably part of that percentage. Before we begin this discussion, please make sure that the student has exhausted all grants, scholarships, and Stafford Loans. What is the best option for our family? This site is a service of Collegiate Access Group and exists as an unbiased review of the above reverenced options.
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Welcome » Plus vs Private | plusorprivate.org Reviews

https://plusorprivate.org

60% of students borrow money to pay for college. If you are here you are probably part of that percentage. Before we begin this discussion, please make sure that the student has exhausted all grants, scholarships, and Stafford Loans. What is the best option for our family? This site is a service of Collegiate Access Group and exists as an unbiased review of the above reverenced options.

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plusorprivate.org plusorprivate.org
1

PLUS Loans » Plus vs Private

http://www.plusorprivate.org/plus-loans.php

Assuming approval, the parent can borrow up to 100% of what the student needs to attend college for that academic year. There is no checking of income availability to repay the PLUS loan. The rate for the 2015 2016 academic year is fixed at 6.84% with 4% in fees, in reality however the Department of Education issues the check with 4.204% of fees deducted from the loan amount.

2

Comparison » Plus vs Private

http://www.plusorprivate.org/comparison.php

025% for auto debit. 025% for auto debit. At least 1/2 time student. 0% - Double digits. Full Disability - Possible*. Loan Limit - Annual. Lesser of 50% of. Balance or $50,000. 80% of home value. Loan Limit - Total. 10 - 15 Years. Up to 25 Years. Varies up to 20 Years. Historically less than 3% of parents ever receive this release. If loan balance is forgiven, the loan balance becomes taxable income.

3

PLUS Application » Plus vs Private

http://www.plusorprivate.org/plus-application.php

Any time when dealing with the Department of Education, the process is not hard, but each step has to be completed correctly to obtain success. At least one parent needs a Federal Student Aid Identifier, (FSA ID). Go to: https:/ fsaid.ed.gov/npas/index.htm. Complete the form and obtain an FSA ID for the student and at least one parent. The parent now applies:. Go to: https:/ studentloans.gov. Complete the form and obtain an FSA ID for the student and at least one parent.

4

Private Student Loans » Plus vs Private

http://www.plusorprivate.org/private-student.php

The number one reason why families pick private student loans over PLUS loans can best be defined by the phrase heard many times, ."I don’t mind helping my child pay for education, but I can’t afford to (or don’t want to) pay for their education". Every survey or study done on the matter lists this as the number one reason for private loan usage; the family wants the student to know that the student is "on the hook".

5

Private Options » Plus vs Private

http://www.plusorprivate.org/private-options.php

The private loan options are called private as they are not Federal loans but come from another source. What we do not discuss here is borrowing funds from friends and family, however we do at our sister site, www.cosigningparent.org. That option has its obvious pros and cons that is consistent with any such borrowing and not specific to student loans. Also not discussed are credit cards as that option should be considered out of the question. For details in these options simply click below.

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Welcome » Plus vs Private

60% of students borrow money to pay for college. If you are here you are probably part of that percentage. Before we begin this discussion, please make sure that the student has exhausted all grants, scholarships, and Stafford Loans. What is the best option for our family? This site is a service of Collegiate Access Group and exists as an unbiased review of the above reverenced options.

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