The last years showed, that the student loans in their pure form are not so affordable, as they could seem. According to different researches, the per cent of the students, who can’t pay their loans by themselves, is increasing. One of the biggest private lenders, which provide students with money for college, a Sallie Mae company, offers the solution: now parents can get a loan for their kids’ college.
The author of the Cappex website, Mark Kantrowitz, claims, that his research has shown: more and more parents get such kind of loans in order to help their kids to finish their college and to get the proper job in order to pay the debt.
Why do they do it? As students state, their main loan money is not enough for a complete college study – that’s where parents come for help. But Sallie Mae introduces this good-looking offer to everyone, who wants to take care of their children future.
As the representatives of the company say, this load-product has been created in order to satisfy those parents’ will, who’d like to share the responsibility with their children and to help them as possible.
The conditions of parents’ loans are different; first of all, they depend on the credit history of a person. In general, they are set between the 5.74 and the 12.87 percents. It’s a good rate, which can really bring new clients into the bank, – all of them need to know be sure, that their child will finish his or her college successfully.