Is this like consolidating?

Discussion in 'Credit Talk' started by CCollector, Aug 28, 2003.

  1. CCollector

    CCollector Well-Known Member

    As you all know, I am in college and have about $4,400 in credit card debt. My student loan paper work came in and they said I have an option of getting a P.L.U.S. for $6,000 or so @ 6%. My credit APRs range from 15% to 28% so I was wondering if anyone has any type of experience with this loan... if my schools bursar just rights me a check for $6,000 or what... but I'm really interested in this. I think also the loan period is like 120 months and doesn't start until I get out of college, but I'd start paying on it now.
  2. creditboi

    creditboi New Member

    A PLUS loan is available to your parents. Therefore, they have to sign the paperwork for that particular loan, and they are responsible for paying it back.

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