myFICO® Forums
Help
cancel
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Did you mean: 

PARENT PLUS LOAN QUESTION

tag
Get Access Now
Luscher
Valued Contributor
‎11-17-2013 01:03 PM
‎11-17-2013 01:03 PM

PARENT PLUS LOAN QUESTION

So say my parent has been taking out plus loans for the past x amount of years. After a student graduates and the grace period is over, who pays that plus loan? Is it 100% the parents debt? Or will the student have to take on that debt?

 

Thank you

CHASE FREEDOM | AMEX BCE | | BOFA REWARDS | CITI TYP | Quicksilver | DISCOVER IT | Sallie Mae | CHASE CSP
--------$32,000-------------$30,000-----------$30,000-----------$30,000-----$13,000---------$18,200----------$15,000---------$6,500----

FICO - TU: 780 EX: 784 EQ: 781
Message 1 of 2
0 Kudos
1 REPLY 1
trix_r_4_kids
Regular Contributor
‎11-17-2013 01:34 PM
‎11-17-2013 01:34 PM

Re: PARENT PLUS LOAN QUESTION

@Luscher wrote:

So say my parent has been taking out plus loans for the past x amount of years. After a student graduates and the grace period is over, who pays that plus loan? Is it 100% the parents debt? Or will the student have to take on that debt?

 

Thank you

It is a parent loan, thus the responsibility for repayment lies with the parent.  However, there is nothing that prevents the student from chipping in to help repay the loan Smiley Wink

I used to post my scores here. However, I'm prone to motion sickness and the ups and downs were nauseating.
Message 2 of 2
0 Kudos
† Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.