Can Parents Take Out Loans? Forum
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Can Parents Take Out Loans?
My parents want to contribute somewhat to my law school tuition, but they would prefer to structure their contributions as loans rather than contributing a lump sum. Can they borrow from the federal government for this?
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Re: Can Parents Take Out Loans?
I believe parents only qualify for undergraduate work. They would need to go private but depending on credit may qualify for some pretty low rates, possibly lower than federal loans.
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- Posts: 2
- Joined: Sat Jan 27, 2018 2:52 pm
Re: Can Parents Take Out Loans?
Thank you. Do you know which lenders they should approach? Also, what's the federal interest rate for student borrowing?coskigirl wrote:I believe parents only qualify for undergraduate work. They would need to go private but depending on credit may qualify for some pretty low rates, possibly lower than federal loans.
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- Posts: 101
- Joined: Mon May 22, 2017 9:45 am
Re: Can Parents Take Out Loans?
There are probably hundreds of lenders that offer education or personal loans.watered wrote:Thank you. Do you know which lenders they should approach? Also, what's the federal interest rate for student borrowing?coskigirl wrote:I believe parents only qualify for undergraduate work. They would need to go private but depending on credit may qualify for some pretty low rates, possibly lower than federal loans.
https://studentaid.ed.gov/sa/types/loans/interest-rates
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