Can a Parent PLUS loan borrowers use Income-Contingent Repayment?

Income-Contingent Repayment is the only income-driven repayment plan parent PLUS loan borrowers can use. To be eligible, you must first consolidate your parent PLUS loans. Switching to Income-Contingent Repayment could lower your payments significantly if you qualify.

Can a Parent PLUS loan be forgiven?

For example, parent PLUS loans qualify for forgiveness if you choose a certain federal repayment plan, if you work in certain jobs or if you’re permanently disabled. Here are the ways that you may be able to receive forgiveness as a parent PLUS loan borrower. What Is Parent PLUS Loan Forgiveness?

What is the best Parent PLUS loan repayment option?

Parents often help their children cover college costs by taking on debt — often in high-interest federal parent PLUS loans. The best parent PLUS loan repayment option is the one that fits your family’s financial situation and goals, like repaying loans quickly, getting a manageable payment or qualifying for loan forgiveness.