Five Alternatives to Cosigned Student Loans

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There are alternatives that can help bridge the gap between education costs and what you’re able to pay.

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Should parents cosign on student loans?

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That depends on your tolerance for risk, your child’s projected ability to repay the loan, and if it makes sense for your family.

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Alternatives to Cosigned Student Loans

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Look at groups that your family might be closely associated with, such as unions, professional associations, or alumni organizations.

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Parents can also take out their own federal student loans with the Direct PLUS Loan, sometimes referred to as a “parent PLUS loan.”

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Filling out the FAFSA is the first step to figuring out how much federal (and frequently state) financial assistance your child is eligible for.

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