Disclosing Income to Child ...

NikkiiL
Fri, 15 Jan 2010 19:22:31 +0000

Depends on the school. Some schools are passive…as long as the promissory note is received the loans are processed. For schols who are active and require an active confirmation of the loan acceptance: the schools sometimes require a paper signature, other times the loans are accepted electronically using a school issued password.

However, if the parents are coddling the child, odds are the child isn’t reading the award letter and doesn’t understand there are loans attached to their aid package. The parent points…demands, “sign here”, child complies and graduates with loans they have no clue about. They don’t know the terms of the loans, where to find out about the loans…they have no clue.