WSJ article out today warning of the dangers of Parent PLUS loans. I thought this was particularly pertinent as high school seniors pore over their financial aid award letters before making a May 1st decision. Here’s the lede:
Millions of U.S. parents have taken out loans from the government to help their children pay for college. Now a crushing bill is coming due. Hundreds of thousands have tumbled into delinquency and default. In the process, many have delayed retirement, put off health expenses and lost portions of Social Security checks and tax refunds to their lender, the federal government.
What makes this even more disconcerting is the financial aid “packaging” that often occurs where the PLUS loan becomes the