Understand your true cost. Some schools include Parent PLUS loans in the financial aid package they present to accepted students, which can create confusion about the true cost of attendance. "Many families, especially those whose children are first-generation U.S. college students, don't realize this is a loan because of how it shows up on the aid letter," says Betsy Mayotte, president of The Institute of Student Loan Advisors. If the aid package is difficult to decipher, reach out to the financial aid office for help and a breakdown without the PLUS loan.
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