Parent PLUS loan?

Colleges and Universities A-Z University of California - Berkeley
1

<p>This is how my finAID came out..</p>

<p>Total UC Berkeley Costs
$53,878.00
My Gift Aid $21,700.00
My Net Cost $32,178.00
Parents Share $19,956.00
Students Loan And Work $10,700.00
Total Resources to Meet My Net Costs $30,656.00</p>

<p>and the Parents share is supposedly callled the Parent PLUS loan...</p>

<p>Does this mean its a loan my parents have to take out? Im fine with taking a loan out in my own name, but I really don't want to burden my parents with a loan under their name... </p>

<p>do you think calling Cal about how to get a different loan instead of the
Parents Share $19,956.00</p>

<p>will make any difference? are their finAID plans set in stone?</p>

<p>thanks if you looked at this..</p>

2

<p>anyone know?</p>

<p>If i apply for the cheapest housing… a triple unit 1… will my living cost price go down?</p>

<p>right now living expenses says $17,000 :O</p>

3

<p>yes your parents are supposed to come up with $19,956. They can borrow it as a parent PLUS loan or find it elsewhere.</p>

<p>They are already expecting you to take out student loans. You will not be able to get much more in loans in your own name. The max Stafford loan for a freshman is $5500. You may (or may not) get a small amount in Perkins loans. The rest would either be loans in your parents name or possibly a private loan in your name but cosigned by your parents.</p>

<p>That is much too much in loans. Hopefully you have more affordable options.</p>