According to a recent report, the University of Montevallo is ranked 12th among the top 250 schools for the lowest student loan debt for parents. This analysis was determined by The Student Loan Report, a website covering the latest in higher education financial aid.
Using financial aid data licensed from Peterson’s to compile the latest listing, The Student Loan Report recognized the top colleges and universities in the U.S. that leave parents with the least amount of debt after taking out Parent PLUS loans.
Parent PLUS loans are student loans taken out exclusively by the parent to pay for their child’s education; only the parent is responsible in repayment and the student does not have to worry about anything except getting A’s. Parent PLUS loans can still saddle parents with debt, but some schools leave the parent with less debt than others. The Student Loan Report recognized 36 public universities and 214 private institutions.
“While parents are willing to do whatever for their children, money still matters, and these schools have proven to be the most cost-effective options for parents looking to send their child off to college,” The Student Loan Report explains.
In recognition of this honor, Director of Student Financial Services at the University of Montevallo said, “We are very sensitive to student and parent student-loan debt levels at UM and are consistently increasing institution and foundation scholarship funds for our students as well as student employment opportunities. Students can now apply online for scholarships for the fall 2018 and spring 2019 academic year at montevallo.awardspring.com.”