Can a Parent PLUS Loan be forgiven?

The short answer is yes.

And no.

Confused yet?

While the social distancing measures necessitated by the COVID-19 outbreak—cancelled events, school closures, and forced remote work—have inconvenienced nearly all of us, for some, coronavirus has meant economic catastrophe. Workers who become ill without access to paid sick leave, small business owners forced to close up shop, and hourly and/or tip-dependent employees dealing with either closed—or simply empty—workplaces can quickly find themselves teetering on the edge of financial solvency.

In recognition of this dilemma faced by many working families—and, specifically, many student loan borrowers—President Trump announced on Friday afternoon that his administration will be temporarily waiving interest charges on federal student loans. 

Previously on Getting In: A College Coach Conversation, we talked about how and when to arrange college financing; on the latest episode, we’re tackling the bigger question of how much is too much to borrow. For those about to start researching and visiting colleges, we have tips on how to start developing a preliminary college list. Finally, if you’re interested in the University of California system, you’ll want to be up-to-date on the system’s A through G course requirements for high school students—we’ve got everything you need to know.

Student loan indebtedness is always a hot topic these days, and there’s been a lot of media coverage recently about various federal loan forgiveness, discharge, and cancellation programs. Every program is a little bit different, and it can be downright confusing to figure out which program, if any, might work for you. We’ve decided it’s time to provide you with a summary of what’s out there.

On last week’s episode of Getting In: A College Coach Conversation, guest host Ian Fisher discusses three very different phases of the college admission process: writing supplemental essays, receiving admission decisions, and repaying loans.

In the latest episode of Getting In: A College Coast Conversation, guest host Sally Ganga covers a wide range of topics, beginning with a discussion on how to prepare to repay student loans, and then an in-depth look at the supplemental essays for Loyola Marymount University and Occidental College. She wraps up with a lively conversation about the differences between studying the sciences and studying engineering in college.

On the latest episode of Getting In: A College Coach Conversation, guest host Sally Ganga talks with her guests about whether or not to disclose learning disabilities on the admission application, how you’ll know when you’re ready to submit your first college application, and how to keep track of student loans while you’re in college.

Recent college graduates must learn to navigate lots of new experiences—new freedoms, new responsibilities, and, yes, new bills. Graduates who borrowed student loans to help finance their undergraduate educations will soon be entering the world of student loan repayment—a domain that can be challenging to traverse, particularly on an entry-level salary. Borrowers wanting to get the lay of the repayment landscape should head on over to the Fortuna Admissions blog to learn about their loan repayment options from College Coach finance consultant, Shannon Vasconcelos.

Divorce is never easy, and paying for college is no cake walk either. Combine these two situations and things can get very complicated very quickly. If you are experiencing a separation and/or a divorce, we thought it would be helpful to give you some tips on how you might approach this major financial decision, what the rules are in the financial aid process, and, finally, how your situation affects various aspects of college financing once your child enrolls in college. In Part One of this series, we discussed your first steps and how to complete the financial aid applications. In Part Two, we will talk about college financing (i.e., student and parent loans), as well as other things to think about once your child is enrolled in college.

On this week’s episode of Getting In: A College Coach Conversation, host Ian Fisher unpacks how to think about your college major, athletic recruitment at highly-selective institutions, and income-driven student loan repayment plans.