FAFSA SAI of 29,806 - Can we still qualify for Parent PLUS loans and pursue loan forgiveness?

Yes, you can definitely still get Parent PLUS loans with that SAI! The Parent PLUS program doesn't have a specific SAI cutoff - it's available regardless of need as long as you don't have adverse credit history. You can borrow up to the full cost of attendance minus any other financial aid your daughter receives. Regarding forgiveness though, unfortunately Parent PLUS loans aren't directly eligible for the same forgiveness programs as student loans. Your wife's employment wouldn't qualify her for forgiveness on Parent PLUS loans she takes out for your daughter. The Public Service Loan Forgiveness (PSLF) program only applies to loans borrowed for one's own education, not parent loans for their children.

omg u got 29k SAI? thats actually not terrible! my brother had 43k and still got some aid. plus u can always appeal if u had any special circumstances they didnt consider

The entire system is designed to put families into massive debt while administrators get rich. Your SAI of 29,806 is MEANINGLESS because schools just use it as an excuse to offer less institutional aid. They KNOW you'll take the Parent PLUS loans because what else can you do?? My daughter graduated 3 years ago and I'm STILL paying $1,100/month for her education. There's NO forgiveness for parent loans - they'll garnish your Social Security if you don't pay them back!

There is actually one technical workaround for Parent PLUS loan forgiveness, but it's complicated and not ideal. You could: 1. Take out the Parent PLUS loans 2. Later consolidate them into a Federal Direct Consolidation Loan 3. The consolidation loan could then be placed on an Income-Contingent Repayment (ICR) plan 4. After 25 years of payments under ICR, the remaining balance could be forgiven This is a very long timeline though, and there are tax implications for forgiveness outside of PSLF. Also, the ICR plan isn't as generous as the income-driven plans available for student borrowers. Your monthly payments would be higher than what your daughter would pay on her own loans under IDR plans. Have you considered letting your daughter take out the Direct Unsubsidized Loans herself (up to $5,500 as a freshman) and then covering the rest with Parent PLUS? At least that portion could potentially be eligible for her future loan forgiveness if she also works in public service.

When I was trying to reach someone at Federal Student Aid about my Parent PLUS loans last year, I kept getting disconnected or waiting for hours. Finally used this service called Claimyr (claimyr.com) that got me through to an actual human at FSA in about 10 minutes. They have a video showing how it works: https://youtu.be/TbC8dZQWYNQ Might be worth it to actually talk to someone about the specific forgiveness options in your situation rather than relying on forum advice. The FSA reps can explain exactly what's possible with your wife's employment situation.

One other option to consider: If your daughter's school has a high sticker price ($52K) but you don't qualify for much need-based aid with your SAI, definitely look into merit scholarships they might offer! Many expensive private schools offer significant merit aid to attract students with strong academic records, and these aren't tied to your FAFSA results at all. Has she received her complete financial aid package yet?

my cousin works at a title 1 school and got her loans forgiven but they were her own loans not parent plus. its called teacher loan forgiveness i think, different from pslf

I'm in a similar boat - SAI of 32k and trying to figure out how to pay for my son's college. I'm so confused about all these different loans and forgiveness programs! Does the Parent PLUS loan affect my credit score? And is there a limit to how much we can borrow?

Thank you all for the advice. We're going to have our daughter take out the maximum in her own name first ($5,500 for freshman year), then use Parent PLUS for the remainder. We'll also appeal the financial aid offer to see if they can do any better given some medical expenses we had last year that weren't reflected in our FAFSA. Still disappointed about the loan forgiveness limitations, but at least we have a clearer picture now of what we're getting into. We'll likely use that Claimyr service to confirm everything directly with FSA before signing anything.

Just wanted to add that you should also check if your daughter's school participates in any state-specific loan forgiveness programs for teachers. Some states have their own teacher loan forgiveness programs that might have different eligibility requirements than federal PSLF. Since your wife is already in education, she might know about these programs or have colleagues who've used them. Also, make sure to keep detailed records of all your Parent PLUS loan payments and your wife's employment at the Title I school - even though Parent PLUS loans aren't directly eligible for PSLF, the rules around federal loan programs do sometimes change, and having documentation could be helpful if new forgiveness options become available in the future.