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  • Your parents are on the hook for a lot of money and unless you can get these loans transferred to solely your name, maybe your family that’s in a tough financial spot should highly reconsider adding more debt to their problems

  • Parent Plus loans cannot be transferred to the student. You would have to refinance the loan. However since you will be in a PhD program, you probably won’t qualify. You will also lose the federal protection that ParentPlus loans provide. Your parents can apply for income based repayments though if that would help.

  • I’m not sure the deferment part is true but I cant find info either way. Theoretically if he does get denied for additional parent PLUS loans then your sister would be eligible for additional unsub loans.

    Deferment isnt the best solution though. Probably the best option would be for your dad to do a Direct Consolidation Loan and then put the loan on Income Contingent Repayment based on his income. The other option would be for you to take out extra grad plus loans and use that money to pay for the parent plus loan, effectively transferring it into your name.

  • I’m not sure if your dad is correct that he can’t take out loans for your sister while yours are in deferment. My mother was able to take out loans for my two younger siblings while I was in grad school and her parent plus loans for me were in deferment. Keep in mind that the loans will still gain interest while in deferment so it’s a good idea for you or your parents to pay whatever you can.

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