Best Place for Parent Plus loan?

Paying for College
1

<p>My sons first bill for college arrived last night and I need 5k to cover what grants and stafford loans didnt. Its due in a month. My questions are...</p>

<ol>
<li><p>Wheres the best place to apply for a loan for this? or top 3 in your opinion? </p></li>
<li><p>And I understand interest accrues immediate so should I reapply for another 5k Ill need in the spring then or all 10k for his first year at once? Do they let you do that?</p></li>
</ol>

<p>Thoughts on how I should handle this are appreciated!</p>

2

<p>A Parent Plus loan is a federal loan. you should start here:</p>

<p><a href=“Federal Student Aid”>Federal Student Aid;

<p>You need to notify the school you wish to take out the loan, and for what amount. They can disburse half in the fall and half in the spring. Use the school’s financial aid department to help you, they are your best resource.</p>

3

<p>Thanks you some much for the reply and link. I got something in the mail from Sallie Mae. Is that the same thing as a Parent Plus loan? Is it a better option?</p>

4

<p>I believe Sallie Mae is one of several companies that service federal loans, and offer private loans as well. If you take out a Parents Plus you you will be assigned a servicer by the federal government who actually originates the loan. I get tons of mail from them too, I just toss it all.</p>

5

<p>Federal Loan. Talk with the school immediatly</p>