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Tag Archives: Parent Plus Loan

How Can I Payoff Massive Parent PLUS Loans My Mom Can’t Afford?

tax_audit_questions1

Dear Steve, My situation is similar to those asking about student loans and repayment. My Mom had to take out parent plus loans under her name to help me with school. We both understand the responsibilities we have. However, she can barely afford to pay for her rent and food on the money she makes. Therefore, I’m the one making ... Read More »

    My Husband Ran Off With Another Woman and Left Me in Student Loan Debt

    Pow! - Comic Speech Bubble, Cartoon

    “Dear Steve, My husband took off with another woman. Our house is now in foreclosure and our daughter had to quit college because my ex messed up loan application paperwork. We took out Student Plus loans done in my name because he was overseas when the paperwork needed to be signed, but part of the divorce settlement stated HE WAS ... Read More »

      I Don’t Want to Pay My Parent PLUS Loan Anymore

      Winter Latice and Pergola

      “Dear Steve, I helped my daughter with a parent plus loan for her last semester which was $6000.00 and I have been paying on it for quite some time. Then she went back her second year and she filled out a 2nd parent plus loan so her payments was 50.00 per month she quit paying now for the past 4 ... Read More »

        My Father Stole My Student Loan Money

        stressed man

        “Dear Steve, My Dad took out a PLUS loan for me because I had reached the maximum loan allowance from my college as a “dependent” student, even though my parents did not support me in any way. He chose the maximum loan amount $18k (YIKES) and ended up using $3k to lease a new fancy car that he couldn’t afford. ... Read More »

          They Tell Me My Parent PLUS Loans Are Not Eligible for Help

          Drowning swimmer

          “Dear Steve, My children were living with me when they filled out their FAFSA forms. I ended up with over $20,000 in Plus parent loans as a result even though my only income at the time was child support. Can parent student loans (PLUS loans) be either transferred to the now adult children or be discharged in bankruptcy? Being parent ... Read More »

            When I Retire Will My Social Security Be Reduced Because of Student Loans?

            calculator

            “Dear Steve, I took out Parent Plus loans for both of my children while they were in school. Each of them also have unsubsidized student loans which they are paying off. Once both children were out of college, I consolidated the Parent Plus loans into one and have been paying them regularly for the past 10 years. I am 63 ... Read More »

              Can We Release the Cosigner on Our Parent PLUS Loans?

              Student Loan Corkboard Concept

              “Dear Steve, My husband took out several Direct Parent Plus loans for our daughter’s education (federal loans). Because his credit wasn’t the greatest my father-in-law endorsed those loans. Now that my daughter has graduated we consolidated those loans. We only make about $60,000 a year between the two of us so we need a repayment plan with low payments. We ... Read More »

                How Can I Lower My Parent PLUS Loans for My Daughters Nursing School?

                Ready to Collapse

                “Dear Steve, I am a single mother and a NYC public school teacher who is retiring this June. I am 62 and I have been taking out Parent Plus loans and will have to take out more until my daughter graduates from nursing school in December 2016. My estimated Parent PLUS Loan will be around 70 max. by the time ... Read More »

                  The Best Way to Lower Parent PLUS Loan Payments

                  Moving Up

                  Parent PLUS student loans sure seem like a financial death trap. Parents are encouraged to jump into them to help pay for school by taking out Parent PLUS student loans, and they think they are doing a good thing, but is it smart? What a Parent PLUS Loan Is For those that might now be aware, a Parent PLUS student ... Read More »

                    If a Parent PLUS Loan Borrower Dies Will the Child Have to Pay it Back? – Cathey

                    Cemetery Caution

                    “Dear Steve, Young lady’s mom had taken out a parent plus loan, the Mom passed. Does the loan automatically become the debt of the student? The student is of course now being told to pay it. I thought since the parent took it out, the debt died when she died. Is there any help in this situation? What happens with ... Read More »

                      I Took Out a Parent Plus Loan for My Daughter’s Education I Can’t Pay Now. – Lee

                      Student Loan Corkboard Concept

                      “Dear Steve, I am a middle-aged woman who has been ill for over a decade and has not been able to work during that period. In the 90’s I took out Parent Plus Loans for my daughter’s education. I began to make payments on them as they came due until I became ill and lost my job and my house ... Read More »

                        Even in Death, Student Loans, the Debt That Keeps on Giving

                        The unfolding tragedy of student loan debt in America took an interesting turn recently with an article published in the Baltimore Sun and then repeated in the ABA Journal. Thanks to a reader that sent in the tip on the article we get a glimpse into reason 198 why you should never cosign for student loans. Roswell Friend attended Temple ... Read More »

                          I am on disability, owe a lot of money on parent plus loans, what can I do? – Bonny

                          Ready to Collapse

                          I was working full-time when I took out the first parent plus loan in 2000. The consolidated loans payment is $225.00 per month at 4%. I have continued paying on this loan, no deferment yet. I was unemployed, collecting unemployment benefits when I took out the second set of parent plus loans, and now those payments are over $300.00 a ... Read More »

                            Consolidate Parent Plus Loans – Carol

                            Ready to Collapse

                            “Dear Steve, I have two PLUS loans that I took out for my daughter for her first two years in college. My husband passed away at the end of her first year. I have two other children, who at the time where young enough that I was able to collect Social Security for them. Now that I can not longer ... Read More »

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