Reply to Parent expecting me to pay back parent plus loan

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[quote=Anonymous]Just as a story from a different perspective, my uncle took out $100k+ in private loans in the early 2000s for my cousin's college. He absolutely could have afforded the tuition outright - but the interest rates were low and he thought he was doing clever cash flow management. Fast forward 15 years and he was still paying $1,000/month on that loan even though HIS financial situation had gotten considerably worse. From my cousin's perspective, his parents paid for college and had plenty of money to do so. He had no idea about the financing mechanisms or decisions they made at the time.

Sad ending is that cousin died unexpectedly in his mid 30s and our family ended up scrambling to see if it was possible to discharge the loan - which still had a balance of $90k more than 10 years later.

Moral of the story is that people who aren't great with money make dumb money decisions all the time. It's kind of OP to try to help bail her mom out. I'd start, OP, by getting all the loan paperwork and then having a conversation with your mom about the origin of the loan, how she ended up holding it solo (w/o your dad), etc. If you are worried about her money situation, it's better to get a full picture of things now and ALSO to begin setting boundaries about the extent to which you will and will not be supporting her moving forward.[/quote]

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