Parent plus loan repayment options?

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Anyone have any experience with this type of loan? I was going to do a public service loan repayment for a couple years but if it's under my mom's name I think she would have to serve with me...

Are people with these loans supposed to give their parents the money directly?
 
Anyone have any experience with this type of loan? I was going to do a public service loan repayment for a couple years but if it's under my mom's name I think she would have to serve with me...

Are people with these loans supposed to give their parents the money directly?


I haven't heard of public loan repayment. But I do have a parent plus loan because it was the only loan available for a summer semester I took. Basically my mom told me she would sign for this but if she ever hears of it again (i.e. not being able to pay) she'd kill me. Since then I've been paying on it monthly and she has done nothing with it except sign.

I know other peoples parents probably legitimately took out the loan to help pay for their child's schooling, but mine did not. Learning more through repayment I doubt a community service repayment could be applicable, but I really have know idea. I think your best bet would be to contact the program about if you could do the service for her or if she would have to serve as well.
 
I haven't heard of public loan repayment. But I do have a parent plus loan because it was the only loan available for a summer semester I took. Basically my mom told me she would sign for this but if she ever hears of it again (i.e. not being able to pay) she'd kill me. Since then I've been paying on it monthly and she has done nothing with it except sign.

I know other peoples parents probably legitimately took out the loan to help pay for their child's schooling, but mine did not. Learning more through repayment I doubt a community service repayment could be applicable, but I really have know idea. I think your best bet would be to contact the program about if you could do the service for her or if she would have to serve as well.

Thanks for the reply !

Yeah it seems like the best thing to do would be to do what you are doing with the monthly payments. I'll definitely ask the loan company about Peace Corps/military and whether or not my mother would have to serve (she never would and I wouldn't want her to of course haha).

If I could somehow get the loans under my name which I don't think I even can, but this would be of course ideal. Since I'm going to be the one paying off the loans it just seems kind of weird that I wouldn't be able to make that happen.
 
I had a year off, paid a couple of payments, then put it on deferment for 6 months until medical school starts when it will go on school deferment until after residency.
 
I had a year off, paid a couple of payments, then put it on deferment for 6 months until medical school starts when it will go on school deferment until after residency.


This was essentially going to be my plan of attack but I was going to do a post-bacc/masters since I'm a senior in university now. Do you think it would be better to take some time off and work full time or just keep moving on and accruing debt/dealing about it when I land my career job.
 
This was essentially going to be my plan of attack but I was going to do a post-bacc/masters since I'm a senior in university now. Do you think it would be better to take some time off and work full time or just keep moving on and accruing debt/dealing about it when I land my career job.

It depends on the kind of job you get in the interim. I am working as a scribe and making $9.50/hr. It would be a total waste of time for me to take any additional time off as even in residency I'm going to be making a salary which equates to 3x that.

You'd have to justify flushing a year of career-job salary down the drain, meaning you'd have to be able to make a significant dent in your debt to justify taking that extra time off.
 
It depends on the kind of job you get in the interim. I am working as a scribe and making $9.50/hr. It would be a total waste of time for me to take any additional time off as even in residency I'm going to be making a salary which equates to 3x that.

You'd have to justify flushing a year of career-job salary down the drain, meaning you'd have to be able to make a significant dent in your debt to justify taking that extra time off.

Very good point about making a significant dent in my debt to justify spending the year working.

I feel like post-bacc programs generally only allow about half of it to be covered by a loan so I could be having to pay $10-15k out of pocket so I suppose that would be the only true reason I would start working full-time upon graduation
 
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