Disclosing Income to Child ...

thumper1
Fri, 15 Jan 2010 19:27:49 +0000

Wow…didn’t know that was possible. Doesn’t the kid have to provide a real signature at some point in the loan process?



Mine didn’t have to provide written signatures for their Stafford or Perkins loans. They “signed” their master promissory note using the SAME PIN used for the FAFSA. And that is the SAME PIN DS uses now to access his account to check on payments now that he is repaying.

Just FYI…our kids sat down with us EVERY year and we reviewed their financial aid awards with them. In DD’s case, she was offered an unsubsidized loan in addition to her subbed on. We discussed her finances and she did NOT take that loan. Same with DS. Even in grad school, he would ask us to review it with him so that he knew what he was getting himself into.

My son took a personal finance course in college. He said it was one of the hardest courses he took…but he feels it should be a required course for all college students.