Parents can help their student children in several ways. You can borrow money against your own name or co-sign for a private student loan that your student will be obligated to repay after they graduate.
Aid Options:
- Parent PLUS Loans:
you can borrow up to the cost of attendance minus any financial aid received by the student. PLUS loans are subject to credit approval: jump to parent PLUS loan information
- Home Equity Financing:
if you own a home with some equity value, you can borrow against your home equity to pay for education costs. Use the your credit line as your money account. You must have working income for the program to work: view the BLOC product demo
- Private Student Loans:
if your students needs additional funds that are not subject to federal regulations, check into private student loans.
By co-signing the note, the student can borrow up to $30,000 each academic year ($40,000 for certain schools where the cost of attendance has been determined to exceed $30,000):
Undergraduates may defer repayment until six months after graduation or ceasing to be enrolled at least half-time. Immediate and interest only repayment options are also available.
Graduate repayment is automatically deferred. The terms of deferral of Continuing Education loans varies with program type: jump to private student loan information
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View summary financial aid charts:
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