With federal Parent PLUS loans now accounting for one fourth of borrowing for undergraduates, brand new data reinforce concern about moms and dads’ capability to repay the loans.
New research contributes to growing concerns about a federal system which allows moms and dads to obtain loans to simply help fund their children’s undergraduate training.
Approximately 3.6 million moms and dads had applied for $96 billion in outstanding loans beneath the federal Parent PLUS system at the time of belated a year ago, the research from Trellis analysis stated. Parent PLUS loans now account fully for about one fourth of total federal financing for undergraduates, a share that expanded from 14 % in 2012-13.
An ever-increasing part of moms and dads are also struggling to pay down these loans. (más…)