<p>Sorry–I’ve searched and scanned here and at the College Board, and I can’t find the answer.</p>
<p>We pay back 1/2 of two older children’s college loans. These are not federal loans (didn’t qualify for those), and we co-signed on them. Between the two older kids, we’ve committed to paying back approximately $100K and currently pay $900/month directly to the bank that holds the loans. </p>
<p>Will this financial commitment be counted anywhere on the CSS we’ll file for our youngest child?</p>
<p>These are loans in the children’s names (not your own?) that you are paying? It is not your own debt but is really like giving a gift to your kids. Well it is a gift (a wonderful one), but I highly doubt that it would be taken into account by CSS.</p>
<p>It’s alittle to difficult to imagine your youngest child’s school would appreciate your trying to increase your aid possibilities with their school because of the money you spent for the two older siblings. Can you see the irony of what you are asking? Now if 1 and 2 went to the same school and now 3 is going there you might have a somewhat legitimate discussion with the admissions, the alumni and the finaid office about a “family discount” for 3 graduates…</p>
<p>It’s unlikely you’re going to get more aid because of this situation. </p>
<p>you may need to tell your older kids that they will have to pay back their own loans so that you can use your $900 per month for the younger child.</p>
<p>* Between the two older kids, we’ve committed to paying back approximately $100K and currently pay $900/month directly to the bank that holds the loans.
*</p>
<p>Parents need to “think ahead” when they’re co-signing/paying for loans for older children because those obligations often prevent them from having the funds/borrowing power for younger children.</p>
<p>It sounds like you’ve co-signed for $200k in student loans and you’re paying back $100k of those loans.</p>
<p>“Can you see the irony of what you are asking?”</p>
<p>Nope. I maybe would find my question ironic if I had asked if the Ferrari payments or the mortgage for the house in the mountains could be taken into account.</p>
<p>I was hoping those experienced with the CSS application process could tell me if payments towards educational debt I co-signed for is taken into account. Emeraldkity4 and Swimcatsmom answered that question for me.</p>
<p>*“Can you see the irony of what you are asking?”</p>
<p>==============
Nope.*</p>
<p>I think the point is that you allowed your older kids to go to School A and School B where you couldn’t afford to pay your “family contribution”, so you enabled them to attend by co-signing loans that they (the kids) are supposed to pay back. Going to those schools were likely a luxury choice.</p>
<p>Now, you’re expecting School C to give you more aid for Child #3 so that you can give money to your older kids to help pay back their loans. Why would School C want to help you pay back loans for Child #1 and Child #2?</p>
<p>Payments toward loans are not considered on any of the PROFILE questions. There used to be a section on the Profile where you can put additional information you want considered (I haven’t completed a Profile in a while so a current user can tell you if that’s still there).</p>
<p>I have to say I think this…your loan debt for college costs will likely be considered like any other consumer debt…it won’t be considered at all…it is considered a choice.</p>
<p>Don’t ALL students “qualify” for unsubsidized Stafford loans simply by completing a FAFSA? The total for those for four years would be about $26,000…and they are in the student name only.</p>
<p>^^Hillsdale in Michigan does not participate in any federal funding. Students cannot take out and use federal loans. For Hillsdale it is philosophical. There might be other colleges but this is the only one that I am aware of.</p>
<p>Even Bill Gates kids will qualify for Stafford loans- however, if their school does not participate in the Stafford loan program, they won’t qualify.</p>
<p>But as the vast majority of schools DO participate and because it is to the students detriment not to have Stafford loans available, I would take a good hard look at any school that doesn’t participate.</p>
<p>( I didn’t realize that schools had the option not to participate until I found out that our cities community colleges did not participate- as they did in the past, I can only guess why they no longer do so.
Am wondering if perhaps the default rate was very high & so there are now obstacles for them to continue?)</p>
<p>On the CSS Profile, Question PE 115…“Enter how much your parent(s) expect to repay on their educational loans in 2012”</p>
<p>Enter the total amount of educational loan repayments that your parents expect to make in 2012. Include loans obtained by your parents for their own education or for your or your siblings’ education. Don’t include loans that you or your siblings obtained for your own education and that your parents have agreed to repay.</p>
<p>Since the loans in question are the siblings’ loans, then I don’t see how they can be listed. The parents aren’t obligated to pay for them; they’re just choosing to do so.</p>
<p>It says here that loans obtained by the parents for the siblings CAN be listed. What cannot be listed is loans in the student’s names that the parents are repaying. If these are private loans in the PARENTS’ names, then I would guess they could be listed. BUT if they are in the student name then they can NOT be listed even IF you are repaying them (at least that is what <em>I</em> think this means). Cosigned loans really are not the parents…they are the student’s…I believe. Parents only would pay if the student defaults.</p>
<p>BUT beware…just because this question is asked on the Profile does NOT mean that the school will give you additional money in the form of need based aid. Since each Profile school has its own formula for computing aid, it is not really possible to even guess how they use this information from school to school.</p>
<p>I would suggest that the OP run the Net Price Calculator on each school website…see what the ESTIMATED family contribution is for each school…and remember that these are estimates.</p>