Your child's education may be one of the biggest - and smartest - investments you'll make. College graduates tend to earn more money during their careers than people with a high school diploma - as much as an extra $1 million according to recent studies. The interest rates for student loans are more affordable than the rates you'd pay for most credit cards, which can be as high as 20% or more if you're ever late with a single payment. You can also avoid using the hard-earned equity in your home and keep it available for other purposes. And you may be able to take advantage of education tax incentives.

Federal Loans for Parents
Low-cost Federal Family Education Loan Program (FFELP) loans from Chela are another smart source of education funding. FFELP loans for parents include PLUS Loans.

Currently, the rates for these loans are the lowest they've ever been - significantly less than a typical credit card or most other forms of financing. They also offer several convenient repayment options and potential tax benefits.

Private Loans as a Smart Alternative
College expenses such as tuition, books, room and board, transportation, and a computer can add up quickly. If you find that your student needs additional money for education-related expenses, you can take out a private—sometimes called alternative—loan. A private loan can cover the entire cost of your student’s education (less other financial aid). Learn more about the private loans Chela offers through Nelnet.