Parents who have Parent Plus Loans need help as well as students. We would like the same income based payment plans etc that are offered to students.
Why is this important?
My husband and I are unable to refinance our mortgage or qualify for a home equity loan because if our Parent Plus loans. The monthly payments are now so high we are unable to make the payments. We are not allowed to pay what we can afford and the interest is accruing at an alarming rate. Even though we qualify for an Economic Hardship Deferment the interest continues to accrue. At this point, the monthly payment required is laughable.
