Posted in Family
at 2021.02.13
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By Saydung89 from Pixabay

Millions of
students every year aim to attend colleges or universities in order to have
high chances for career opportunities and financial freedom in the future.
However not all of them could afford paying for the education expenses
themselves. For this reason the U.S. government help student by offering
Federal student loans under Direct loan program that include: Stafford, Perkins
and PLUS loans.

and Disadvantages of PLUS Loans

PLUS loans can be received in one of two forms: PLUS loans for parents or PLUS
loans for graduate students. Both PLUS loans, as the type of federal financial
aid, have own advantages and disadvantages. First, PLUS loans differ from other
federal loans including Stafford and Perkins loans.

comparison with other two types which are need-based loans, PLUS loans (for
parents and graduates) are dealing with creditworthiness of potential
borrowers. It means that if a borrower want to qualify for this type of loan
it’s necessary to have high income and do not have an adverse credit history.
If borrowers have financial problems and have no opportunity to meet these
requirements (high income and good credit score) they have to have a
credit-worthy cosigner.

credit-worthy cosigner will be responsible for the borrower and must have high
income and good credit history. If a cosigner doesn’t have it – he is not
credit-worthy. And in the end the borrower will not qualify for the loan and
his application will be denied.

However as
federal student loans PLUS loans have major advantage. PLUS loans are
low-interest loans. The truth is all federal loans for students are low-income
and can be considered as cheap financial aid from the government.

PLUS Loans
For Parents

The most
important theme of Parent PLUS loans is eligibility requirements. It’s
important to meet requirements because if this topic will be skipped borrowers
will not qualify and waste their time. Here are essential requirements for

• Parent
borrowers must be biological parents.

• Parent
borrowers must have good credit history.

• Parent
borrowers and dependent students must be U.S. citizens.

The process
of applying for Parent PLUS loans is simple as 1-2-3. Apply by submitting a
Free Application for Federal Student Aid (FAFSA). A borrower can do it by
applying using web or by mail. It’s important to know that a borrower will also
complete Master Promissory Note (also called MPN).

document is a legal document covering responsibilities of borrowers. It could
be considered as a contract between a lender and a borrower in which a borrower
is taking responsibility for paying the loan back. In fact, by signing this
document a borrower agrees to repay the loan regardless of anything that could
happen in life.


As it was
described PLUS loans are cheap loans and can be considered as low-income
college funding source. The interest is fixed and equals 7Free Web Content,9%. The repayment
period is up to 25 years. It makes this student aid option comfortable for

it’s necessary to take into consideration that if for some reason a borrower
face huge trouble and could not repay the loan – the loan can be canceled. This
can happen only in certain circumstances.

realize the importance of education in the modern time. There are different
college funding source available and federal financial aid could be considered
as the best one. And PLUS loans are great funding option for graduate students
or parents who want to help their child cover education costs.

Once the dog days of summer come to a close and it’s time for the kids to go back to school, the schedule changes and getting back into a routine can be challenging for busy parents. But don’t worry – you aren’t alone. Here are some of the most common problems that parents face once the school year begins:

Getting the kids out of bed

No matter how many mantras like “the early bird gets the worm” you tell your kids, there are still mornings where they just don’t want to get out of bed, especially if they’ve been out of school all summer. Try using a bullhorn to sound the alarm. Your kids will jump out of bed, and it’ll give you a nice chuckle to start your day.

Finding their shoes

Much like the washing machine always seems to eat socks, why does it seem like your kid’s shoes were swallowed somewhere in the house? It’s never the towels or their clothes – just their shoes. Be sure to check the toy box or the PlayStation area. These items have a secret, heat-seeking beacon built in for shoes.

Doing homework

If you’ve spent all night arguing with the kids about homework or just gave up trying to help them with new math, go with the classic the dog ate the homework excuse. The teacher doesn’t need to know you don’t have a dog.

Not making the cupcakes

Every parent experiences the dreaded “Mom or Dad, I needed cupcakes for school today” comment as you are walking out the door, and the kids swear they told you last week. Luckily Sprinkles is right around the corner. Grab a plate from home and transfer from the official container. And don’t forget to smudge an icing or two to give it that homemade look.

Locating that permission slip (that you know you signed)

Maybe the kids did forget to tell you about the cupcakes, but remember that permission slip that you signed for a field trip? Where did it go? Don’t worry. You left it in the last place you thought to look. It’s a strategy that works every time.

Catching a cab

Getting the kids off the school and still getting yourself to work on time is one of the biggest struggles for a parent. The second is catching a cab when you need one and are already late. Bring the morning bullhorn with you and distract the person getting into the cab in front of you, then dash in ahead of them. Sure, the honk and dash isn’t nice, but when it comes to getting everyone where they need to be on time, it’s the Wild West.

Your child comes home with lice

While making light of daily parent issues like getting the kids off to school is fun, dealing with lice is no laughing matter. If you do find that your child has lice or if there’s a suspected outbreak at schoolFind Article, schedule an appointment at one of our six treatment salons in the Tri-state area to get your child screened or treated for lice in just one session without harmful chemicals.

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