Parent Plus loans
Hi,
My son is getting married soon. Recently, when driving with his fiance and soon to be father in law, Dad let them know that as soon as they are married he will be signing over the parent plus loans to her. It doesn’t sound like they had a clear understanding of how the student loans would be repaid when they took them out but I think this is a very bad wedding gift for the new couple. What should we do?
Terry Says
Well, I have news for the father-in-law: HE CAN’T DO THAT!!!
He signed for the loans — and he is stuck repaying them!! (Maybe he should think twice about paying for the wedding!)
In fact, show him my latest column on PLUS Loans. https://www.terrysavage.com/parent-plus-loans-act-quickly/
He should act quickly — or he will be facing higher payments till he gets the loans paid off!