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For the first time, the Department of Education releases data on the Parent Plus Loan.
WSJ reports on it: https://drive.google.com/file/d/1BMT8JUBAYGmhuQ9pIy_j7V8c0e6kMqjF/view?usp=sharing
We need to start having serious conversations with low-income and middle-income families about borrowing insane amounts of the Parent Plus Loan.
WSJ reports on it: https://drive.google.com/file/d/1BMT8JUBAYGmhuQ9pIy_j7V8c0e6kMqjF/view?usp=sharing
We need to start having serious conversations with low-income and middle-income families about borrowing insane amounts of the Parent Plus Loan.
In my whole career, I've only had one parent apply to the PPL after I had many conversations about him affording to pay the loan. The amount wasn't insane as the top schools you see on this list, but it was a conversation that needed to happen.
I talked many families out of getting a PPL and always drilled into my students that if things get to the point that you're considering asking your parents to take out PPL or you taking a private loan at insane levels, then that school isn't worth the crushing debt that..
will haunt you and your parents for the rest of your life.
I remember working in one school where students on a colleagues' caseload borrowed around $40K in PPL for the first year to attend Morehouse and Spelman. These were $0 EFC families. I almost fall out of my chair when...
I remember working in one school where students on a colleagues' caseload borrowed around $40K in PPL for the first year to attend Morehouse and Spelman. These were $0 EFC families. I almost fall out of my chair when...
I heard that.
The flex isn't worth the debt, especially when payments can't be kept up for all four years.
Since you can't use the table on this PDF, I encourage you to check out the PPL data for various schools on College Scorecard: https://collegescorecard.ed.gov/
The flex isn't worth the debt, especially when payments can't be kept up for all four years.
Since you can't use the table on this PDF, I encourage you to check out the PPL data for various schools on College Scorecard: https://collegescorecard.ed.gov/
The path to see PPL data:
After you've searched a school and clicked on them, click on the "Financial Aid & Data" section.
Then select hover over "Federal Student Loans" and select Parent PLUS Loans.
After you've searched a school and clicked on them, click on the "Financial Aid & Data" section.
Then select hover over "Federal Student Loans" and select Parent PLUS Loans.
I loved my first supervisor in this field. But the only thing I disagree with her on (and I might have been the only one who did) was encouraging students/families to borrow whatever amount to attend their dream school. From the beginning of my career, I was serious about debt.
And the interesting part is that I graduated from a private undergrad with no debt. But I see what debt has done to people I'm close to, even those who went to the same undergrad with me.
Here's a study on aid packages that are confusing to common folks and include PPL: https://www.uaspire.org/BlankSite/media/uaspire/Decoding-the-Cost-of-College.pdf
Here's the PPL data all in one place: https://docs.google.com/spreadsheets/d/1o7mbZaf328V6L0GeoEowFRltlRepp6kSjelg_Gm9Csk/edit?fbclid=IwAR3W1z3k__ZOLQIgz7fx0mFyLSc7SQxGJeAWctYe2s8O45z-MBsYPC7XRLQ#gid=1026353814
Thanks to @_paul_martin!
Thanks to @_paul_martin!
