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re: Student Loans

Posted on 4/22/24 at 1:53 pm to
Posted by anc
Member since Nov 2012
18137 posts
Posted on 4/22/24 at 1:53 pm to
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.

Posted by DaBeerz
Member since Sep 2004
16994 posts
Posted on 4/22/24 at 2:10 pm to
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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