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<p>Not everyone can qualify for low interest loans like that. If you have really bad credit, even having your parents cosign is no guarantee that you will get favorable interest rates like that. I think most of the recommendations about taking a Parent PLUS loan before a private loan are directed to people who don’t have recourse to lower-interest loans. Obviously, if you do have that recourse, then taking a Parent PLUS loan would be a bad idea. It’s not that confusing, if you think about it from that perspective.</p>