Parent plus loans
I heard you say on Joan Esposito’s show awhile back that parent plus loans were not a good choice for parents of college students. What loan choices are better?
Terry Says
Parent Plus loans come with high rates and fees. It would have been better to have saved in a 529 account. But if you still need to fill the gap, consider refinancing your mortgage. (Interest on the portion used to pay for college is not deductible, but the rate will be far lower.)
Better yet — consider a less expensive school! Seriously, read my recent column on my website about paying for college. It’s not a sin to tell your child you “can’t afford it”!!
