I never had the time or heart to finish the last part of my Blog on college counseling. Compare to my friends and colleagues who work and live in China, I am relatively poor. So, I am looking into how to obtain the best loan for my son's four-year college expenses. Here is some professional advice I read recently: 1) The first borrowing should be by the child through a federal Stafford loan. However, there is a maximum, which is currently $5,500/yr for freshmen. 2) If the Stafford loan is not enough, parents are advised to look into a federal PLUS loan. 3) If the parents are turned down for a PLUS loan, the student is allowed to borrow more through the Stafford program. Very interesting, this personal-finance adviser for Costco tells the parents: ... not to borrow a penny for your child's education.
标签: federal
