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Terms are basically the same for these loans, although students may be able to have their repayment deferred until after graduation. But which is the better option - student loans or parent loans? Each has distinct advantages and uses. Ask yourself these questions as you are trying to decide: What level of debt do you feel is manageable for your child to graduate with? -How important is it to you that your child takes responsibility for paying student loans? -Will you and your child work out a repayment plan to repay PLUS Loans and other parent loans?. Such a statistic can lead to students graduating with an unmanageable debt load. Just be sure to accept only the funds you need, even if you are offered much more. These loans are not needs-based. Parents can always help their children pay off these loans once repayment begins after graduation. Other options Parents do have some additional options for college funding, such as home equity loans. Private loans Both students and parents can take out private loans to cover funding gaps. You may need to cosign for private student loans.Parent Loans or Student Loans - what is going to be best for my child? At least 20% of college students need some type of loan to help pay for their college education. So which type of loan should I get? This really comes down to a personal decision. If you are a parent with dependent students attending college at least part-time and you have a good credit history, you are eligible to receive a PLUS Loan. These often have rates as good as private loans. You can borrow up to the total cost of undergraduate education expenses, minus other financial aid already received. Federal parent loans PLUS Loans (Parent Loan for Undergraduate Students) are another loan option that comes with low interest rates. An alternative is for parents to help out by taking out loans themselves. If you need to take out loans and you qualify for federal loans, this is your best choice. Another consideration is that students may wish to take