Shouldering the burden of a parent’s PLUS loan is a significant decision for students, impacting finances, family dynamics, and future opportunities. This guide explores the multifaceted implications of this arrangement, offering a balanced perspective on the financial, legal, and emotional aspects involved. From understanding the long-term financial consequences and exploring potential tax benefits to navigating the complexities of credit scores and family communication, we delve into practical strategies and solutions. We aim to provide a clear and comprehensive resource for students considering or currently managing their parent’s PLUS loan repayment. Financial Implications for Students Taking on the responsibility of repaying Read More …
