Are there any student loan repayment programs available to parents?

Yes, there are a few student loan repayment programs available in Wisconsin for parents. The Wisconsin Parent Loan (WPL) is a program that helps parents pay off their children’s student loan debt. The WPL allows them to repay the loan amount over a period of up to 30 years, with a fixed interest rate of 3.25%. Another program is the Income-Based Repayment (IBR) plan, which allows parents to pay back their loans based on their income. The IBR plan has an interest rate of 5.84%. The Department of Education also offers an Extended Repayment Plan (ERP) for parents who have an outstanding loan balance of more than $30,000. Under the ERP, parents can repay their loan over a period of up to 25 years. The interest rate for the ERP is determined by the lender. Finally, the Public Service Loan Forgiveness Program is available for parents of students who are employed in the public service sector. This program forgives a portion of the loan balance if the parent has made a certain number of on-time payments. If you are a parent struggling to repay your student loan debt, you should consider talking to a financial advisor to figure out which program is right for you. With the right plan, you can make student loan repayment much more manageable.

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Are there any student loan repayment programs available to parents?

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