Posted on 01/13/2024 3:34:12 AM PST by where's_the_Outrage?
Pay your student loan off, get a job and redo the student loan in your name.
Dad should have thought this one over. There’s not a college degree out there worth $150k, not even a doctorate’s degree.
Pay back your student loan. Situation resolved!
Damn' straight. Sounds like the dad was dumb enough to let the kid party on all the loan money too and just kept taking more loans out.
They're both getting what they deserve, IMO. Being that stupid should hurt.
I thought student loans could not be removed with bankruptcy.
yes you can -a simple google search with bankruptcy, student loan, sallie mae will help - but I’m not lending my expertise to something I think is too easy and morally wrong to do
“No, I think the crux of the matter is that the dad stupidly enabled his son to dig a financial hole for both of them.”
Bravo! Someone who gets it.
wy69
The Universities have been for sale for decades, and the federal government has been an enabler for them.
What they are trying to sell is to vote for the democrats and big brother will take care of all of your problems by dissolving that pesky debt..or, like the drug pusher talking to the ten year old, “taste this little sugar cube and it will make you feel really good, and it is free!”
Hey kid, here’s a concept. Get a job and pay back the loan. And why is Dad taking out a mortgage to incur additional debt?
We’ve got to stop the nationwide myth that a college diploma is the path to success. Might have been true up to the 1950s because relatively few had diplomas. Also, educational standards had not been dumbed down so that everyone could get a diploma regardless of whether they could do the work.
BTW, always remember to differentiate between a college diploma and a college education.
Except hundreds of thousands of federally funded student loans were quietly sold to private lenders. Oddly, none of the loan forgiveness programs cover private loans. It was a bait and switch program by the federal govt. and nobody had a choice in the matter.
Even if they change the terms of the contract in the dead of night? In the private sector I believe that’s fraud. If the govt does it, we’re supposed to sit back and enjoy it.
Sallie Mae stopped offering federal student loans in 2010. Long before the origin of loan in this story.
The son and the dad “heard” what they wanted to hear at loan app...and didn’t demand to see the paperwork backing up what they thought they heard. They merrily just signed the paperwork.
Hopium is a poor method of repayment...
“This kid was too busy going to college to learn anything.”
Pithy.
Impressive. You did good raising your girl.
The kid needs to refi the loan and take his dad off from it.
I will be good for the Dad to get a mortgage because the kid will be living with him for a long, long time.
You cannot discharge a student loan through bankruptcy. And, the father would still be on the hook. Even if the kid died.
Just saw your earlier response.
I guess I have some research to do. Ignore my comment.
This kid and his father could take a lot by adopting Dave Ramsey’s plan.
Get a second and maybe third job. Each. Live on beans and rice, zero extra’s.
If he’s in a nice new car (likely) sell it and buy a beater.
Do nothing but work. Both of them dug the hole, both can work to fill it back in. (The son should be required to pay his dad back for all that the dad paid into the loans after the hole is filled up)
It will be painful for a few years but the rest of their lives will be debt free.
Keep bugging them. Every time they turn you down, re-send in the release forms. It took me four times in succession, but they finally released my co-signer. You gotta bug the snot out of them to get anywhere.
Here’s a funny one for you. When Obama decided to get into the student loan business old pedo Joe put in a clause that student loans can’t be discharged via bankruptcy.
Way to go Joe........make sure to inform you students
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