Below you'll find a list of all posts that have been tagged as “parents”
I’m not a fan of having cosigners on loans. It is a huge commitment for the cosigner, and if the borrower runs into trouble, it can destroy a close relationship. Lenders like to advertise cosigner release programs, but they have almost no incentive to grant a release, and securing the …
Any parent with a child about to head off to college should be concerned about student debt. Used properly, student loans are an excellent tool for further educational opportunities and to build a better future. Used improperly, student loans are a recipe for financial hardship. Student loans are easy to …
There is a debate about who should be expected to pay for Parent PLUS loans. Those looking at things from a moral standpoint might reach a different conclusion than those looking at it from a legal point of view. What isn’t up for debate is the fact that paying off Parent …
When evaluating college options, it is easy to get sticker shock. Tuition and housing can cost well over $50,000 per year at many schools. Some are closer to $100,000 per year by the time all the costs of attendance are included. Despite the scary numbers, it is a big mistake …
Private student loans should come with a warning label. For many borrowers, student loans are a necessary tool in the pursuit of the American dream. Used properly, student loans can be an excellent investment in the future. The problem with student loans is that things don’t always go as planned. …
When families set aside money for college, that money is normally utilized before borrowing any student loans. This traditional approach has served many families well. After all, why would somebody borrow money to pay for college if they already have some money set aside to pay for school? Unfortunately, the …
After many years of helping families with their student loans, I’ve had the privilege of working with people from all walks of life. I’ve seen parents struggle with weighing their retirement needs against their desire to help their children pay for school. I’ve seen kids overwhelmed with debt and I’ve …
Having a cosigner is a big deal to student loan lenders. Instead of having one person legally required to pay back the debt, cosigned loans have two. The problem faced by many cosigners isn’t just the responsibility to pay back the debt… it is the credit issues that cosigning a …
Parent PLUS loan repayment appears to be very complicated. Unlike nearly all other forms of student debt, the money is borrowed by the parent and not the student. This makes federal program eligibility confusing. These issues are present in repayment plan selection, student loan forgiveness options, and when making strategy …
