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Reply to "Have plenty in 529, but still taking out loans "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]You are not allowed to pay back loans with 529 funds. I would not take out a massive amount of loans in hopes of it being forgiven unless you are already extremely wealthy.[/quote] In addition, there is a 4.23% upfront fee for Fed Parent Plus undergrad loans.[/quote] And 1.059 origination fee for Stafford loan.[/quote] And a possibility that it will be wiped away and/or interest free for several years. [/quote] Stafford loans have been interest free since 25 months ago. Will they be for another 2 years? Doubtful.[/quote]
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