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College and University Discussion
Reply to "Is anyone talking out parent plus loans for kids who want to go into government work?"
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[quote=Anonymous][quote=Anonymous]Parent plus loans belong to the parent, not the student; so the parent would need to work in public service to have these forgiven (not the student). [/quote] +1 OP, I work for the government and also looked into this. My understanding is that the parent must work for the federal/state government. Also, if you get a loan for $300k, after payments for 10 years, you will pay back approximately $220k and the remaining principal and interest balance will be forgiven. That means you saved about 1 year of tuition if you had paid cash.[/quote]
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