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The Growing Loan Burden for Parents of College Students
Inside Higher Ed: A loan program offered to parents financing their children’s college education has been the target of repeated calls for tighter restrictions on eligibility. And a report released Wednesday by the Brookings institution on Parent PLUS loans adds new fuel to arguments for restricting the program.
The report finds that the average loan amount taken out by parent borrowers has more than tripled in the last quarter century, according to the report. And parents with six figures in loan debt make up a growing share of borrowers entering repayment.
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