Parent Plus Loans

From what I understand from this page, https://studentaid.ed.gov/sa/types/loans/subsidized-unsubsidized#how-much, a college student cannot receive above $3,500 in subsidized or subsidized federal loans. The parents MUST take a PLUS loan, which is non-transferable to the adult college student? Basically the parents have to take a 7% loan instead of the adult that is going to school.

Does anyone have an explanation as to why the person going to school cannot take the subsidized or unsub'ed loans themselves? Or why this is non-transferable? I probably sound like an a$$hole, but the adult student chooses their college and agrees to take on the cost of tuition, of which the parent has no legal authority to change these decisions, but then the parent has to take the PLUS loan in their name.

Pre-Edit: I understand that private loans are available, but the terms are generally even worse and no 6 month grace period. I just don't understand why the student could not be responsible for their own debt.

Also I realize most people are going to bash me for not wanting to help an adult that I raised, but enough debt was accrued on their behalf and personal responsibility and good decision making/financing are something they should learn. Not to mention I already have $80k in student loan debt (sub/unsub) and will have 3 kids in college at the same time, so my debt would skyrocket to close to $200k. Guess I never want to own a house again.

Submitted July 13, 2018 at 12:37PM by ZombieJesus262 https://ift.tt/2LgtSVa