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

November 21, 2012

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.

Guests:

Marian Wang, ProPublica reporter, a nonprofit investigative journalism organization
Bob Hildreth, founder of Families United in Educational Leadership (FUEL), an organization that provides incentives for lower income families to save for their children’s college education

More:

Other stories from this show:

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Hi idea about state schools providing cheaper education, as well as financial aid, is about 5 years out of date.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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Mom, Dad To The Rescue: When Parents Take On Kids’ Loans