 TITLE: How to Pay for College When Federal Student Loans Aren’t Enough CONTENT: Explore Other Borrowing Options\n-------------------------------\nFederal student loans are the best way to borrow for college, but they're not the only way to do so. If the gap between your federal loans and the amount you owe is significant, you may need to look into additional loans.\nParent PLUS loans are one option. These are available for the parents of dependent students who are enrolled in college at least part time. The funds can be used to cover tuition, fees and other college-related costs.\nA credit check is required during the application process, and parent borrowers can be denied if they have a poor history repaying debts. Parents who have been denied can still qualify if an endorser with good credit assumes repayment responsibility or the parent borrower is able to prove extenuating circumstances affected their credit history. If a parent's loan application is denied, the student's borrowing limit on unsubsidized federal student loans may be increased to the amount set for independent students.\nIf you've reached your annual limit for federal loans, you might consider applying for a private student loan to cover the remaining expenses. Private lenders decide what loan limits to set for borrowers, so your federal loan limit won't be a factor.\nOnly consider private student loans after you've exhausted all other options. They sometimes come with steeper interest rates and require a credit check. Plus, you won't get the perks, like income-based repayment plans, deferments, forbearance and loan forgiveness, that you'll get with federal loans.\nYou can use Experian CreditMatch™ to view loan offers from private lenders. END