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Private loans Both students and parents can take out private loans to cover funding gaps. Terms are basically
same for these loans, although students may be able to have their repayment deferred until after graduation. Another consideration is that students may wish to take out small loans to begin to establish a credit history. You may need to cosign for private student loans.
Other options Parents do have some additional options for college funding, such as home equity loans. These often have rates as good as private loans.
So which type of loan should I get? This really comes down to a personal decision. Ask yourself these questions as you are trying to decide:
-What level of debt do you feel is manageable for your child to graduate with? -How important is it to you that your child takes responsibility for paying student loans? -Will you and your child work out a repayment plan to repay PLUS Loans and other parent loans?
This article is distributed by NextStudent. At NextStudent, we believe that getting an education is best investment you can make, and we're dedicated to helping you pursue your education dreams by making college funding as easy as possible. We invite you to learn more about Parent Loans or Student Loans at http://www.NextStudent.com .
My goal is to help every student succeed - education is one of hte most important things a person can have, so I have made it my personal mission to help every student pay for their education. Aside from that, I am just a pretty average girl from SD.
