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Posted on 4/4/16 at 10:43 pm to cas4t
quote:
did you forget that OP's title actually has the word "family" in it?
never faced that scenario, but I'm thinking the FIL is trying to help the kid save some money and face at the same time,I had pre-paid state tuition for my daughter, she wanted to go to an Ivy League priced school, I told her fine, you have to make up the difference, when she graduated she had a small outstanding loan,as a graduation present I paid it off, good education for her, great savings for me
Posted on 4/4/16 at 10:48 pm to cas4t
Sounds okay on the surface, but I know relatives who would always remind you of the great "favor" they did you on the loan, saved you money, etc, and expect infinite favors in return forever. Accepting a favor from them is like getting one from the godfather.
Some also would use it as a excuse to comment on your finances. "Y'all sure do eat out a lot for a family with a new car and student loans."
frick that. The Millionaire Next Door book gives a lot of reasons to not do such deals with family.
Some also would use it as a excuse to comment on your finances. "Y'all sure do eat out a lot for a family with a new car and student loans."
frick that. The Millionaire Next Door book gives a lot of reasons to not do such deals with family.
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