Three paths families compare
PathPrimary borrowerCredit and responsibility
Parent PLUSEligible parentFederal rules; parent is responsible
Private parent loanParent or eligible adultCredit-based; adult borrower is responsible
Cosigned private loanStudent with cosignerBoth are fully responsible
Questions a parent borrower should ask
- What federal limits and repayment features apply?
- Will the obligation interfere with retirement, housing, or emergency savings?
- What happens if the student leaves school or cannot contribute?
- Are hardship, discharge, or deferment options available?
Questions a cosigner should ask
- When does repayment begin, and who will make each payment?
- Will missed payments appear on both credit reports?
- Is cosigner release available, and what exact conditions apply?
- Can the cosigner monitor statements and payment status?
Cosigning is not a reference.
A cosigner accepts legal responsibility for the entire debt. Release is never automatic unless the contract specifically says so.
The 2026 Parent PLUS changes
New federal limits apply to many new parent borrowers, while transition rules can create exceptions. Review our 2026 federal loan update and confirm the student’s status with the financial-aid office.
Official starting point
Review Federal Student Aid’s current Parent PLUS information before comparing private alternatives.