<p>Parents took out a PLUS loan as a last minute need, but we don't feel we are getting too good of a deal on it. The repayments start immediately and the interest rates of 8.5% aren't very low. What other ways can we pay for this education? Mom spoke about credit cards, and them having half the interest rate that these loans do. Anyone have ideas?</p>
<p>Anyone????</p>
<p>I believe with some PLUS loans you can often defer payment on principal until after you have completed college, and only begin paying interest right away. Your parents should check with your lender to see if that is an option for their loan (it may be something you have to request?).</p>
<p>home equity loan, if you own a house. TERI loan.</p>