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College and University Discussion
Reply to "Make our kids take loans and pay them at the end as surprise, good idea?"
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[quote=Anonymous]I don't think it is a terrible idea to make your kids take out loans, but, I would tell them this is your plan. "Surprising" them is just weird. I have a friend whose parents had him take out loans for college, and their plan was to pay them off for him. They both died right after my friend graduated from college. My friend was stuck with over $100,000 in loan debt while his younger siblings went to college basically for free, because they had no income (and no living parents). After that experience, I would make sure I had taken out a large enough life insurance policy with that kid as the only beneficiary so my kid could pay them back in case of my death.[/quote]
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