Anonymous wrote:Anonymous wrote:Um. He paid it off to protect his credit.
He also paid off the subsidized loans that were only in student’s name.
Anonymous wrote:Sounds like your nephew could use a wise, loving aunt and uncle to help him figure out how to overcome his current situation.
Too bad he only has shrews for aunts.
Anonymous wrote:Anonymous wrote:My parents just “loaned “ my brother $100k for a house. I know he is struggling and we aren’t but it feels like he is being rewarded for making bad choices.
OP here. This. The grandson chose an expensive out-of-state school, and my kids chose in-state public schools and received $20,000 and $36,000 respectively in merit-based scholarships. They got jobs to pay for expenses. The grandson couldn’t get a job for a long time and when he did, kept getting fired. His father (my BIL) couldn’t help him because he had bad credit (bankruptcy) and didn’t make a lot of money because of no college education. My husband and I scrimped and saved money in 529 plans from the kids’ infancy to pay for college.
Anonymous wrote:Anonymous wrote:My parents just “loaned “ my brother $100k for a house. I know he is struggling and we aren’t but it feels like he is being rewarded for making bad choices.
OP here. This. The grandson chose an expensive out-of-state school, and my kids chose in-state public schools and received $20,000 and $36,000 respectively in merit-based scholarships. They got jobs to pay for expenses. The grandson couldn’t get a job for a long time and when he did, kept getting fired. His father (my BIL) couldn’t help him because he had bad credit (bankruptcy) and didn’t make a lot of money because of no college education. My husband and I scrimped and saved money in 529 plans from the kids’ infancy to pay for college.
Anonymous wrote:Anonymous wrote:My parents just “loaned “ my brother $100k for a house. I know he is struggling and we aren’t but it feels like he is being rewarded for making bad choices.
OP here. This. The grandson chose an expensive out-of-state school, and my kids chose in-state public schools and received $20,000 and $36,000 respectively in merit-based scholarships. They got jobs to pay for expenses. The grandson couldn’t get a job for a long time and when he did, kept getting fired. His father (my BIL) couldn’t help him because he had bad credit (bankruptcy) and didn’t make a lot of money because of no college education. My husband and I scrimped and saved money in 529 plans from the kids’ infancy to pay for college.
Anonymous wrote:My parents just “loaned “ my brother $100k for a house. I know he is struggling and we aren’t but it feels like he is being rewarded for making bad choices.
Anonymous wrote:Anonymous wrote:Those were his loans also. He probably learned his lesson and won't be co-signing anything.
My SIL warned him about this very situation at the time he co-signed and she also asked if you’re helping him, are you going to help my kids? He said no.
Anonymous wrote:He paid off thousands of dollars of loans for grandson who dropped out of college after one semester but owed a lot of money. FIL was co-signor on loan bc son had bad credit. FIL has not offered to pay for my kid’s educations. We can afford it but it seems unfair that my kids get a $20 bill for birthday and Christmas, but nothing substantial like college tuition (and other big expenses). My kids have worked hard to earn substantial scholarships and wouldn’t require much assistance. It seems the squeaky wheel gets the grease.