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Mom, Dad To The Rescue: When Parents Take On Kids’ Loans

Student loans are at an all time high — and the impact spreads to parents. We’ll take a look at parents who take on loans for their college-aged children, and how that’s further squeezed an already financially insecure generation that’s heading towards retirement.

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  • http://www.fibrowitch.net Jan Dumas

    You lost me at expensive private college.  State schools are cheaper, provide just as good an education.

  • Carole

    I was able to borrow over 85,000 from the Parent Plus loan program for which I was extremely grateful. I’m a single parent and wanted to help my children. I was going to pay it off with whatever equity I had the sale of my house which I was just able to do last May. Unfortunately, with the recession and the downturn of the housing market much of that equity disappeared and I lost my job almost a year ago. The problem with parents borrowing for financial aid is the unpredictability of the economy at a time when we will be needing this money ourselves.

  • Raoul

    Given the numerous universities found in Boston, it is unfortunate this segment did not include comments from a financial aid administrator- a person who is actually an expert in the field.

    • Jessica Alpert

      Raoul: We reached out to various universities and unfortunately, were not provided with any financial aid administrators. 

  • http://www.facebook.com/profile.php?id=1586840974 Mary Mendoza

    Hi idea about state schools providing cheaper education, as well as financial aid, is about 5 years out of date. Lots of states are slashing aid, and increasing tuition rates due to budget shortfalls, so there goes that idea. .

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