Ask The Get Out of Debt Experts

My Dear Friend Discovered She Co-Signed for a Student Loan She Can’t Afford

Written by Steve Rhode


Dear Steve,

Asking this for a dear friend who co-signed her son’s student loan and now he has defaulted on the loan. She was unaware.

Her son supposedly consolidated other loans but states he “thought” this one was included. Well, it wasn’t.

She is greatly distressed. She can’t get any real answers from her son, and she doesn’t make enough money to make the payments. She’s a very good person who sadly made a very bad mistake.

Does she have any recourse? Is there any way out for her.



Dear Thomas,

Thank you for being such a good friend and asking for help and advice.

Do You Have a Question You'd Like Steve to Answer? Click Here.

It is not clear if she co-signed for a private student loan or took out a federal Parent PLUS loan for her son.

Typically when people say they consolidated a number of student loans they are federal student loans.

We can get to the bottom of this if you can ask your friend a few questions for me and then post the update in the comments.

In general, if it is a Parent PLUS or a co-signed private student loan, your friend would be responsible for the loan. Period. Any repayment of the loan would be an agreement between the son and your friend. Not the lender.

Sadly, this is a situation I’ve seen over and over. It is horrible.

If you want some more help, just give me a bit more information on the loan.

Choice1 Choice2 Choice3 Big Hug!
Get Out of Debt Guy - Twitter , G+ , Facebook
If you have a credit or debt question you'd like to ask just use the online form .

READ  I'm Willing to Co-Sign a Loan to Help Out My Guy. - Lou

About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.


Share a Comment / Leave a Reply

Scroll to Top
%d bloggers like this: