Can Parents Take Out Loans? Forum

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
Post Reply
watered

New
Posts: 2
Joined: Sat Jan 27, 2018 2:52 pm

Can Parents Take Out Loans?

Post by watered » Sat Jan 27, 2018 2:54 pm

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?

coskigirl

Bronze
Posts: 101
Joined: Mon May 22, 2017 9:45 am

Re: Can Parents Take Out Loans?

Post by coskigirl » Sat Jan 27, 2018 6:46 pm

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.

watered

New
Posts: 2
Joined: Sat Jan 27, 2018 2:52 pm

Re: Can Parents Take Out Loans?

Post by watered » Mon Jan 29, 2018 8:06 pm

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.
Thank you. Do you know which lenders they should approach? Also, what's the federal interest rate for student borrowing?

coskigirl

Bronze
Posts: 101
Joined: Mon May 22, 2017 9:45 am

Re: Can Parents Take Out Loans?

Post by coskigirl » Mon Jan 29, 2018 10:44 pm

watered wrote:
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.
Thank you. Do you know which lenders they should approach? Also, what's the federal interest rate for student borrowing?
There are probably hundreds of lenders that offer education or personal loans.

https://studentaid.ed.gov/sa/types/loans/interest-rates

Want to continue reading?

Register now to search topics and post comments!

Absolutely FREE!


Post Reply

Return to “Financial Aid”