. Parent PLUS loans are federal loans, the easiest loans you will ever get, and one of most expensive, to pay for a student's college. They aren't for everyone.
Here is a decision tree:
1 Do you have adverse credit history in the last 5 years? (90+ day delinquencies, default, bankruptcy, foreclosure, tax lien, student-loan default, etc.)
YES. Apply anyway. You'll likely be denied, but student gets extra $4'5k/year unsubsidized (no cosigner). Stop here, do not borrow plus.
NO. Go to #2
2 Is the interest rate on private loans (with you as cosigner) lower than 8.05% fixed? (Check SoFi, Earnest, College Ave, good credit often gets 4'7% fixed in 2025)
YES. Take the private loan instead (better rate + possible cosigner release).
NO. Go to #3
3 Do you (the parent) work for a government or 501(c)(3) nonprofit and plan to stay 10+ years?
YES. Parent PLUS qualifies for Public Service Loan Forgiveness Borrow PLUS + switch to SAVE plan. Likely $0 payments and full forgiveness in 10 years. Green Light.
NO. Go to #4
4 Can the family cash-flow the gap without borrowing, or with only the student's $5,500, $7,500 Direct loans? (529, savings, part-time job, cheaper school, community college first, etc.)
YES. Skip PLUS completely.
NO. Go to #5
5 Will borrowing PLUS push your total debt payments (mortgage + PLUS + other loans) above 30'35% of monthly income?
YES. Red light, do not borrow. Get denied on purpose or choose a lower-cost school.
NO. PLUS is an option, but still the most expensive federal choice. Consider it only as a last resort.