OT: Should I take the PLUS loans for kid's college? - Saab General Bulletin Board - Saabnet.com
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OT: Should I take the PLUS loans for kid's college?
Posted by Dave in Houston [Email] (more from Dave in Houston) on Sat, 26 Mar 2005 04:38:20
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I'd like to tap the collective wisdom of Saabnet on this issue:
My oldest daughter will start college in the fall, and it looks like it will be at a small, moderately expensive ($25,000 cost af attendance) private school. I have a son who is five years younger.
The school has offered $9,000 per year in scholarships and $16,000 of loans. The loans for the first year consist of a $2,500 unsubsidized Stafford loan to my daughter and a $13,500 PLUS loan to my wife and I.
My inclination is to tell my daughter to accept the Stafford loans. Graduating college with debt would be the natural consequence of her choice of a private school rather than a state school that would cost $10,000 per year less.
Should I also accept the PLUS loan? I don't really need the money right now, but are there compelling reasons that taking out a PLUS loan is a good thing to do?
I'd sure appreciate your comments on the ins and outs of college financing, particularly as it relates to these loans.
Thanks, and best regards,
Dave
posted by 24.206.74...
Posts in this Thread:
- OT: Should I take the PLUS loans for kid's college?, Dave in Houston, Sat, 26 Mar 2005 04:38:20 <-- Viewing This Message
- Thanks, everyone... and a few remarks..., Dave in Houston, Sat, 26 Mar 2005 16:52:20
- Agree with MI-Roger + my experience ..., Urby, Sat, 26 Mar 2005 11:56:07
- Thoughts, awg, Sat, 26 Mar 2005 11:50:36
- Talk to a CPA or Financial Planner - NOW!, MI-Roger , Sat, 26 Mar 2005 11:03:46
- call the guys at NHHEAF.org, a prodigal son, Sat, 26 Mar 2005 10:28:49
- PLUS loans - we didn't, JimBlake , Sat, 26 Mar 2005 07:41:26
- Re: OT: Should I take the PLUS loans for kid's college?, Chuck in SD, Sat, 26 Mar 2005 05:24:26
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