How much are your loans?

swimcatsmom
Wed, 05 Jan 2011 01:07:32 +0000

Good intentions are great, but if you are unable to help pay the loan (which is highly likely for quite a while) they are the ones legally responsible for paying it, and they are the ones whose credit record will show the loans. But they are adults, so presumably were aware of all of this.

I know you are an adult as well - but most recent HS grads don’t understand about debt and its consequences. Based on your posts you have rapidly come to an understanding of the fact that this is too much debt. I know when my daughter graduated HS she did not have any understanding of debt, but we would never have let her take on a huge debt for college. She thinks she is graduating with a “butt load of debt” and her total will probably be less than $20,000.

I am glad that all this huge debt is not in your name. Your parents presumably understood what they were taking on.