From The Chronicle of Higher Education: “Parent PLUS — a federal program that helps parents borrow money for their children’s college education — has recently come under scrutiny. The loans have higher interest rates and origination fees than do other federal student loans for undergraduates, fewer options to reduce payments or seek loan forgiveness, and almost no safeguards to ensure that borrowers can repay their loans. … Parent PLUS borrowers who meet the income criteria are among those who will be eligible to have up to $10,000 in student loans canceled under President Biden’s unprecedented forgiveness program. But now, some advocates are calling on Biden to cancel up to $20,000 in debt for Parent PLUS borrowers whose children received Pell Grants, citing the disparate racial impact of the loans.”
