The Texas university and some other wealthy colleges guided families into no-limit Parent Plus loans, leaving them with onerous payments; ‘I will never get it all paid off’
WACO, Texas—Some of the wealthiest U.S. colleges are steering parents into no-limit federal loans to cover rising tuition, leaving many poor and middle-class families with debt they can’t repay.
Parents at Baylor University had the worst repayment rate for a type of federal loan called Parent Plus among private schools with at least a $1 billion endowment, according to a Wall Street Journal analysis of available Education Department data. Only about a quarter of Baylor parents paid down any of what they originally borrowed after two years. Read the full article published on the Wall Street Journal HERE.