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Student Loans => Ask a Question => Topic started by: Cg020763 on February 11, 2019, 06:02:08 pm

Title: Parent plus loan
Post by: Cg020763 on February 11, 2019, 06:02:08 pm
We are in. Oh trouble, we have 140k I parent plus loan from our kids.  They can barely survive and we only make 90k with car loans mortgage 60 and 56 years old and  no savings.  How could we ever make the payments well over 1k a month at best case scenario.  What can we do?
Title: Re: Parent plus loan
Post by: TheCollegeInvestor on February 11, 2019, 08:14:14 pm
It's not going to be easy, but the sooner you take action, the better.

Here are your options: https://thecollegeinvestor.com/17101/options-if-you-cant-afford-your-parent-plus-loans/

It will involve a combination of significant budgeting, earning more, and working with your kids (meaning they need to do the same, but even more so). It sounds like a burden now, but being broke in retirement and having your Social Security garnished will burden your kids even more.