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If you’re considering taking out a loan to help your son or daughter pay for college, you obviously want to get the best deal possible.

However, with so many options, it can be hard to know how to get an apples-to-apples comparison on different loan types.

We’re here to help. In this article, we’ll look at the Parent PLUS loan and discuss how it stacks up against loans from private lenders.

Do parents have a say when it comes to their child’s college education?

Show of hands: how many of you are hoping (or assuming) that your parents will handle the college loan process for you?

If that’s you, you’re not alone. Many students are already busy enough applying for school admission and scholarships. Plus, you may assume that parents are more qualified to navigate the loan process.

While it’s true that parents can be a tremendously valuable resource in choosing and securing college loans, it’s critical for students to get involved as well.

In this article, we’re going to give you the straight scoop on how your loans can impact your future, and point out some red flags you should look out for when evaluating private student loans.

Your child is growing up. It’s time to let him or her take more responsibility, especially with college just around the corner.

However, there are some areas where even the most mature teens could still benefit from your guidance. Navigating the college loan process is high on that list.

Unless you've been fortunate enough to receive a full scholarship or have your costs covered by Federal loans, you'll probably have to consider a private student loan. Nowadays, these can be a common piece of your payment puzzle.

How To Avoid The Biggest Mistakes People Make With College Loan Payments

Formulating your college funding plan requires so many decisions, but it’s important to stay sharp while you’re attending to those final details.

The fact is, some of those seemingly small decisions you need to make — like selecting a repayment plan — could end up having a big impact on your financial future.

So today, let’s walk through what you need to know to avoid some of the biggest mistakes people make when setting up their student loan payments.