Missed payments go on parents' credit reports after 90 days and can stay on them for seven years.Credit: andresr / Getty Images KEY TAKEAWAYS Parent PLUS loans can't be transferred to the student, even after graduation. Parent borrowers struggling with payments can consolidate their loans into an Income-Contingent Repayment plan, switch to an extended or graduated plan, or apply for forbearance. Parents of dependent undergraduate college students can take out a Parent PLUS loan to help pay for their ...