Hi, I need to take out a PLUS loan to help with college, and, since its in my parents name, I guess its technically them taking it out. I plan on deferring payment on the loan until after I have completed college and I also plan on paying the amount in place of my parents paying.
My concern is how this may affect their credit; I want to take out the full amount for each semester and then return whatever I predict I will not need within the 120 day grace period. What portions of this decision (principal amount of loan, time repaying loan, etc) will affect their credit, and how drastically? I would like this to impact them as minimally as possible.