Elaine Griffin Rubin is a top expert on paying for college who works with Edvisors – one of the leading websites on paying for college. Elaine answers the frequently asked questions around parents borrowing for college.
Ms. Rubin shares the origin of her interest in financial aid. Elaine discusses the Parent PLUS loan. Elaine talks about using payment plans. Elaine gives her insights about private student loans. Elaine discusses borrowing from your home equity, and borrowing from your retirement plan. Elaine answers the question, what is the maximum amount parents should borrow? Ms. Griffin Rubin shares some recent facts about the parent debt crisis. Elaine shares the difference between parent and student debt. She has advice for the parent who says, I refuse to take out any loans. Finally, she shares some pearls of wisdom about how parents should talk totheir children about paying for college. (Length 46:42)