As we have discussed before, the new emergency legislation that was passed will allow you to postpone making payments until your child graduates from college. I also want to remind you that it is not entirely your responsibility. I know you want to help your child get the best education, but they can contribute too.
You need to sit down with your child and have a serious talk with them about what happens when the payments become due. One of the reasons you are helping your child to go school is to help them have a better paying career. Right? Discuss with them what you expect them to contribute to the eventual repayment of the PLUS Loan. It is best to have this talk before school starts. This may help them give the extra push for working during the summer to help pay for the PLUS Loan. This may also teach them the difference between "need" and "want" and teach them that things like school are more important than Spring Breaks in Cabo.
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