<p>So my son is going to be applying to college next year. I have student loans that I am still paying off. Does anyone know if that will affect my son’s ability to also obtain student loans?</p>
<p>No it doesn’t. If your loans are in default, you will not be eligible for Parent PLUS loans, but if that’s the case he’ll be eligible fore additional Stafford loans.</p>
<p>He can still get Direct Student Loans, but he will only be able to borrow $5500 for his frosh year. That isn’t because of your loans, that is just the limit for dependent undergrads. </p>
<p>If you borrowed for grad school, you would have been allowed to borrow a lot more. </p>
<p>The only other issue that I can think of that hasn’t been mentioned yet by the knowledgeable posters above is that if you have private student loans it may make it harder for you to cosign for private students loans for your son. I don’t know if this will impact you or not but it might be something that comes up if for whatever reason your son needs additional loans during college and your own credit has been impacted in some way by your own existent debt.</p>