News: Welcome to the Beta launch of the Student Loan Debt Forum on The College Investor.

  • March 18, 2019, 04:40:24 PM

Login with username, password and session length

Author Topic: Unsettled Parent's Student Loan affect on child's student loan  (Read 1679 times)

IrishPoohBr

  • Newbie
  • *
  • Posts: 2
    • View Profile
Unsettled Parent's Student Loan affect on child's student loan
« on: December 11, 2017, 11:21:23 AM »
If a parent has a past due student loan, will it affect their child from being able to obtain a student loan?

TheCollegeInvestor

  • Founder
  • Administrator
  • Sr. Member
  • *****
  • Posts: 463
    • View Profile
    • The College Investor
Re: Unsettled Parent's Student Loan affect on child's student loan
« Reply #1 on: December 11, 2017, 08:03:47 PM »
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

  • Newbie
  • *
  • Posts: 2
    • View Profile
Re: Unsettled Parent's Student Loan affect on child's student loan
« Reply #2 on: December 12, 2017, 06:56:52 AM »
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

  • Founder
  • Administrator
  • Sr. Member
  • *****
  • Posts: 463
    • View Profile
    • The College Investor
Re: Unsettled Parent's Student Loan affect on child's student loan
« Reply #3 on: December 12, 2017, 08:04:05 AM »
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.