I use to work at Salliemae and there are different advantage to getting a Parent Plus loan over a private loan. For one the Plus loan will be in your name and will go off your credit history. Now, I am not saying your child is bad or anything, but if 15 years from now, you don't want to have to deal with that loan look into private loans. If your credit is good, you can get a pretty good intrest rate on a private loans. Plus the loan can be in your child's name, and you can be the co-signer. Even better once you go into repayment, if the payments are made on time, they will take your name off the loan. Also, just recently Salliemae set it up where you can consladate your private loans after school.
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