Borrowing Money for Your Child’s College Education

Benefits of the kind of collaborative arrangement include the following:

• Your child must apply himself and show a good faith effort, or you won’t pay anything toward his college education.

  
  



• If your student drops out of school, he’s on his own.

  
  



• If your child applies himself and achieves a B average or better, you will repay 80 to 100 percent of the college costs.

  
  



• You don’t have to start repaying these loans until six months after your student graduates, which allows you additional time to accumulate funds to repay the debt or to adjust your monthly cash flow in order to be able to more comfortably pay the debts.

  
  

dummies

Source:http://www.dummies.com/how-to/content/borrowing-money-for-your-childs-college-education.navId-323685,pageCd-email_form.html