Private loans vs. Federal Plus Loans?
I’ve already exhausted Stafford loan options and grants. To make up the rest of the money for school my parents and I are trying to decide between Federal Plus and private education loans. We sent in an application for a private loan with Chase and got conditionally approved for a interest rate of 8.5% which is about the same as the PLUS.
It would be really helpful if we weren’t forced to start making payments right away since I have a brother going to school at the same time and another brother who just graduated and my parents have a mortgage to pay as well. But is there anything I should be worrying about with the private loan?