FSC in U.S. Top Ten Percent in Least Parent PLUS Loan Debt
November 19, 2018
LendEDU’s annual report that evaluates more than 1,000 U.S. colleges and universities to determine which schools limit the amount of student loan debt taken on by the parents has found that FSC ranks #46 among 500 academic institutions in Parent PLUS Loan debt.
The data found that the average Parent PLUS Loan amount at Farmingdale was a more-than-affordable $191.85 – the lowest on Long Island and within SUNY.
A Parent PLUS Loan is a loan offered to parents of students enrolled at least half time in eligible programs at participating and eligible post-secondary institutions. It’s designed for students who can’t afford to pay for school and whose parents can’t afford to contribute to those remaining costs. The loan is geared to allow parents to help fill the gap when additional funds are needed after scholarships, grants, and other student loans.
Under the Parent PLUS loan the federal government is the lender, which means the loan is administered by one of the servicing companies contracted by the Department of Education.
Read the full report.
