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Parent Emeritus
Be careful about student loans
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<blockquote data-quote="BusynMember" data-source="post: 702593" data-attributes="member: 1550"><p>Cosign only if you can either take a huge financial hit or your college student is serious about college AND a thriving, responsible young adult who keeps his word.</p><p></p><p>And if you can't afford the loss if your kid misuses or doesn't pay his loan, be honest to yourself about the character and ethics in your child. You are not giving a child a leg up just because you pay for college if the child is going to abuse the money.unless you are very rich and can take the hit.</p><p></p><p>Your irresponsible child who maybe used or uses drugs is not a good bet to cosign anything with unless you assess your own financial situation because it is you who will probably pay it all. And you know your own child's pattern of responsibility. Don't fool yourself or it could be costly.</p><p></p><p>There are grants too. My daughter found out about them too when she went to school. We know also that our very responsible future cop will definitely pay for her loan.</p></blockquote><p></p>
[QUOTE="BusynMember, post: 702593, member: 1550"] Cosign only if you can either take a huge financial hit or your college student is serious about college AND a thriving, responsible young adult who keeps his word. And if you can't afford the loss if your kid misuses or doesn't pay his loan, be honest to yourself about the character and ethics in your child. You are not giving a child a leg up just because you pay for college if the child is going to abuse the money.unless you are very rich and can take the hit. Your irresponsible child who maybe used or uses drugs is not a good bet to cosign anything with unless you assess your own financial situation because it is you who will probably pay it all. And you know your own child's pattern of responsibility. Don't fool yourself or it could be costly. There are grants too. My daughter found out about them too when she went to school. We know also that our very responsible future cop will definitely pay for her loan. [/QUOTE]
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Be careful about student loans
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