PLUS Loans Can Help Pay for College—at a Cost

To qualify for a parent PLUS loan, you must be the biological or adoptive parent (or in some cases, the stepparent) of a student who is enrolled in college at least half-time. Dreamstime/TNS

By Ella Vincent From Kiplinger’s Personal Finance

As the cost of college continues to rise, it’s not unusual for parents to discover that student loans, financial aid and savings won’t cover all their child’s expenses. Parent PLUS (Parent Loan for Undergraduate Students) loans provide a way to bridge the gap, but rising interest rates have made these loans a costly option.