How much are your loans?

mom2collegekids
Thu, 06 Jan 2011 13:09:55 +0000

Since these are Plus Loans, there’s really no concern by the college as to whether the child can pay the money back. As far at the college is concerned, the debt is the parents responsibility.

It doesn’t really matter if the student “promised” the parents to pay the money back. You can’t squeeze blood out of a turnip, and if the student is only earning enough to pay for rent and other living expenses and can’t make the monthly loan payments then the parents will get stuck.

the student needs to quit now and commute to a local CC at a minimal cost.