Beware of Parent Plus Loans

cptofthehouse
Sun, 14 Oct 2012 10:08:06 +0000

Some don’t even try the PLUS. THey like the idea that the kid is primary and that they are JUST cosigning.

There is no question that folly is the core of most unpaid debt that has gone into overdrive. Oh,yes, there are the stories of those who are truly blamesless, but for the vast majority of us who get into trouble this way, we are the primary cause.

I like Lerkin’s idea of making the payments start immediately as the impact of the loan becomes immediate. The 'later" element is more than a lot of folks can handle. Paying the piper is a most relevant expression.