• Welcome to The Student Loan Debt Forum | The College Investor. Please login or sign up.
 

Unsettled Parent's Student Loan affect on child's student loan

Started by IrishPoohBr, December 11, 2017, 11:21:23 am

Previous topic - Next topic

IrishPoohBr

If a parent has a past due student loan, will it affect their child from being able to obtain a student loan?

TheCollegeInvestor

It will if the parent is in default and is looking to obtain a PLUS loan for their child's education. However, we don't think that parents should borrow for their kids education.

If you are in default, you need to get that resolved ASAP: https://thecollegeinvestor.com/15577/student-loan-rehabilitation/

IrishPoohBr

Thank you.  The parent's loan is in default, however; he is not obtaining a new loan for his child's education.  His son is obtaining his own loan, but the child was told that his father's defaulted loan may hinder him from that. 

TheCollegeInvestor

Yes, that "may hinder" is based on whether or not the parent is going to take a PLUS loan or cosign a private loan. If the child is taking it out 100% in their own name, he/she should be fine.