PLUS LOANS VS. PRIVATE LOANS?

i’m confused that one to chosse from.. the PLUS loan or the Private lone? that one is better? and why?
note that i have a great co-signer for the the in isolation loan, but i still confused that one has reduction repayment?
plz i need a great answer and 5 points to the most appropriate answer
thanks
the and loan going to be underneath my mom’s name, but im the one who is profitable it each month cuz my mom’s income doesn’t concede her to compensate it… i see the and loan seductiveness is 7.9 but the in isolation loan in between 3.5% to 10% but i have a great co-signer.. SO right away it’s clear, that better? any idea ?

{ 2 comments }

just not that March 8, 2014 at 9:46 pm

Unless you are a graduate student, the PLUS loan is a loan your parents must take out, not you. The plus loan your PARENTS are responsible for repaying, not you. The interest rate is fixed on the PLUS loan and it will be much lower, with better terms. Private loans are evil and should be avoided like the plague.

spalmer March 8, 2014 at 10:26 pm

PLUS loans would be great for you because your parents take these out in their names (unless you’re a graduate student). You should not take out private loans… you’ll find yourself in too much student loan debt pretty quickly. PLUS loans have a fixed interest rate… private loans have a variable interest rate (generally between 4% and 11%).

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