Latest Posts
Home > Ask The Get Out of Debt Experts > I’m $850 in Debt, in College, and Don’t Want to Tell My Parents. – Jessica

I’m $850 in Debt, in College, and Don’t Want to Tell My Parents. – Jessica

“Dear Steve,

I am a college student with 2 years left of undergraduate school and then one more year for grad school. I got a credit card last summer and was doing fine until school started. I couldn’t find a job so my bill racked up to around $850.

I still am unable to find a job and I am struggling to afford the cost of food. Creditors have been calling me day and night. I’m scared that my credit will be messed up because of this or that creditors will file a lawsuit against me.

As of right now, I do not have any student loans but I have considered taking one out just to pay this debt. The problem with that is, I do not want my parents to know what a mess I have gotten myself into, and they would find out if I took out a student loan!

What are my best options?

Jessica”

 

Dear Jessica,

Taking out a student loan to pay this debt would be a massive and colossal mistake. It would be the worst thing you’ll ever do and if you do it I will personally come over and kick your ass. I hope I didn’t sugarcoat that too much for you.

Of all the solutions available to you, the best is to fall on the sword with mom and dad and fess up to the situation. You owe too little to be helped by credit counseling, budgeting isn’t going to save you since you have no income to budget, and as long as this issue remains open and unresolved it will hurt your credit.

I think you’ve learned about the dangers of debt when you can’t pay it and it is time to put this matter behind you with a little help of the Bank of Mom and Dad.

They may be upset for a short period of time but share with them what you have learned from the experience. Help them to see that this is the least expensive and most important class that you will learn in all your college years, Debt 101: The Consequences of Debt.


Get Out of Debt Free Hotline
debt settlement helpstudent loan help

About Steve Rhode

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.

Get My FREE Get Out of Debt Guy Newsletter

It is the smart thing to do.

I promise to keep your email safe and secure.

Close

I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

You can unsubscribe at any time with just one click.

After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


  • It will keep you posted on the latest scams.
  • You will be alerted to the latest articles.
  • You will wind up smarter than everyone else dealing with debt.