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What are the advantages of a PLUS loan?
PLUS loans have a fixed interest rate, so the size of your payment won’t rise if interest rates rise. They also offer free insurance, so the debt will be canceled if the parent or the student dies or becomes disabled. PLUS borrowers can also get their payments deferred if they get into financial trouble.</p>
<p>What are the downsides of PLUS loans?
Unlike credit card debt and mortgages, which can be canceled if you file for bankruptcy, education loans of all types must be paid. Most bankruptcy courts will not cancel them unless your situation is extremely dire.</p>
<p>[PLUS</a> Loans: Frequently Asked Questions - US News and World Report](<a href=“http://www.usnews.com/education/paying-for-college/articles/2008/04/10/plus-loans-frequently-asked-questions.html]PLUS”>http://www.usnews.com/education/paying-for-college/articles/2008/04/10/plus-loans-frequently-asked-questions.html)</p>