Parent PLUS Loans

What a PLUS Loan Is

A PLUS loan is basically a loan given out to the parents of dependent children looking to enroll at any college or university. The PLUS loan covers up to any amount that is not already covered by any other form of financial aid. For instance, if your child is going to a university that costs $10,000, and he/she receives $7,000 is financial aid from other sources, a PLUS loan is good for up to $3,000 in this specific instance. No lender is necessary under the pretenses of a PLUS loan, because the U.S. Department of Education works directly with your college or university to distribute the loan application, process the loan application, and eventually distribute the loan funds to the appropriate sources (i.e. the college or university).

How To Obtain a PLUS Loan

Little is required of you to receive a PLUS loan as the parent of a child wishing to take out a loan in order to finance a college education. Simply submit a Direct PLUS loan application and promissory note to the U.S. Department of Education office located within your specific state. All of this information can be obtained through your college or university’s financial aid office, and application packets are readily available through the same office. It is also recommended that you fill out a FAFSA form (also available through your school’s financial aid department), so that your child may receive the largest amount of financial aid possible.

Getting an education is the best investment you can make, you can to learn more about Parent PLUS Loans and The Loan World at Debt Consolidation andLoan Review Resource

The Internet Loan World: Parent PLUS Loans

The Internet Loan World: Parent PLUS Loans

Debt Consolidation Lenders Online - 3 Things To Watch Out For

If you're like the average American, you have six or so credit cards. In some cases, all those bills and balances can seem overwhelming. By consolidating your debt into one monthly payment, you can make it more manageable and affordable. And searching for a Debt Consolidation Lender online can make the process of finding a Debt Consolidation Loan easy and quick. But be wary of disreputable lenders, since the Internet makes it simple for scammers to offer Debt Consolidation services. Here are three things to watch out for:

EXTRA FEES:

Depending on the type of Debt Consolidation Loan you're applying for, you can expect to pay some extra charges. But watch out for any lender that wants you to pay exorbitant fees! You shouldn't have to pay a fee just to apply for the loan, known as an "application fee." And your total amount of extra charges should seem reasonable. To ensure your lender is charging competitive fees, make sure you compare the costs between at least three different loan companies.

POOR SERVICE:

If you just get an automated voice messaging service when you call the loan company, or if the only contact information is a web form, chances are the lender's customer service is less than spectacular. You should have at least one--if not more--phone conversations with a live loan officer or customer representative. Any emails or messages you leave should be answered promptly, and you should always been treated with respect.

PUSHY SALES:

Some unscrupulous lenders will encourage you to borrow more than you can afford, since a bigger loan means more money in their pocket. Beware of any loan company that tries to push you into borrowing more than you need, especially if their fees increase when your loan amount increases.

Debt Consolidation Loans are a smart way to regain control of your finances, since they can bundle multiple credit card balances into one monthly payment. Use the Internet to help you find a lender, but watch out for the warning signs of an unscrupulous company.

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