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re: Student Loans
Posted on 4/22/24 at 1:53 pm to Abundy007
Posted on 4/22/24 at 1:53 pm to Abundy007
So it sounds like what you have is a PLUS loan, it's one of the shadiest financial products on the market.
Colleges push these on unsuspecting parents who make too much to qualify for grants or traditional student loans. "It's just another type of student loan."
That's fine but if this is the case, understand the following are true statements :
1. Your daughter is debt free. She has $0 student loan debt.
2. You took out $50k in your name to pay for her college. It is your responsibility to pay the debt. She has no legal responsibility.
Colleges push these on unsuspecting parents who make too much to qualify for grants or traditional student loans. "It's just another type of student loan."
That's fine but if this is the case, understand the following are true statements :
1. Your daughter is debt free. She has $0 student loan debt.
2. You took out $50k in your name to pay for her college. It is your responsibility to pay the debt. She has no legal responsibility.
Posted on 4/22/24 at 2:10 pm to anc
quote:
That's fine but if this is the case, understand the following are true statements : 1. Your daughter is debt free. She has $0 student loan debt. 2. You took out $50k in your name to pay for her college. It is your responsibility to pay the debt. She has no legal responsibility.
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