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Can We Take Over the Parent Plus Loan from Mom?

By on January 22, 2016


Dear Steve,

My wife and I are both active duty military. All of my college was paid for using the GI Bill and Tuition Assistance. Unfortunately, my wife did not join the military until her second year of college so she had to get a loan to pay for her out of state tuition. She took the loans out two loans, one under her name (which was a personal loan which we already paid off) and the second was a federal loan under her mom’s name.

Are there any programs out there that can help us get out of debt? Currently she owes $13850.70 to a Direct Parent Plus Loan Federal Loan. The Loan is under her mothers name.



Dear Craig,

Well the silver lining is you could take over the loan by getting a loan yourself and paying it off. Places like Lending Club offer unsecured personal loans at higher interest rates than what you are paying now.

The problem here is it is not your wife’s loan. It’s her mothers loan and it is not transferrable.

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About 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.

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