What is a parent loan Everfi answer?
What is a parent loan Everfi answer?
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A parent loan refers to a type of loan taken out by a parent to help pay for their child’s education. Typically, this loan is in the parent’s name and requires them to be responsible for repaying it, even though it is intended to help cover the child’s educational expenses. In the U.S., a common example is the Parent PLUS Loan, a federal loan available to parents of dependent undergraduate students.