When I was doing my tertiary education, I remember being inundated with advertisements after advertisements of student loans, bursaries and scholarships. Interviews were even held in the university campus itself to enable students to secure financial aid to help the pursue the course of their dreams. I, too, was one of those who was fortunate enough to land myself a student loan and it has helped me tremendously financial-wise. However, I recently found out that students now can apply for financial aid online. With just a click of a mouse, students can be well on their way to securing one of these outstanding PLUS loans.
A PLUS loan, short for Parent Loans for Undergraduate Students, have all the properties of an attractive student loan. Besides offering loans with interest rates as low as 6.5% , with a PLUS loan parents are able to borrow up to 100% of college tuition fees. That’s a huge burden lifted temporarily off the parents’ shoulders for sure. What’s more, the PLUS loan is not income sensitive; this means that household income is not a factor that determines eligibility for the loan. In layman’s terms, any Tom, Dick, Harry and Mary are welcome to apply. 🙂
Potential PLUS loan applicants can also have all their qualms and worries resolved by checking out the common questions about PLUS loans. This will definitely help alleviate their concerns before actually submitting a PLUS loan application. With recommendations from financial experts coupled with favorable repayment terms, it is no wonder that the tag-line for PLUS loans is “PLUS Loans are Smart Money”.
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