My own Sister, who never bothered to listen to my advice on this, co-signed loans for my niece to go to college. She ends up going out of state to Ole Miss and racks up something like $155,000 in student loan debt. About $130,000 was on my sister and of course she can't pay it back. With interest it is now about $155,000.
My Sister's excuse on all this was that she wanted her daughter to have the same kind of college experience she did, translation she wanted her to be able to be in a Damn Sorority. What my Sister forgot was when she was in college it was affordable and my father could pay for it.
My niece graduated with a degree in Hospitality Management, and what job does she have today. Well she is a flight attendant for an airline. Great Job and perks, but certainly not worth the cost of the Degree.
I have been trying to help my Sister in this mess, not financially, but in trying to deal with the student loan people. She just has no clue about money at all and just doesn't give it much thought. I am at my wit's end on this.
She is married but her husband is no help and his name isn't on the loan papers. so he doesn't care. She doesn't make enough money to make any kind of payment on this mess.
If anyone has any info or advice I would appreciate it.
You are a good bro and you gave your sis sound advice. All my kids student loans were in their name only. I never did a parent plus loan. If they dont pay its on them not me although I would try and help.
A priv College cost like 3k a year in late 60s early 70s. Your sis made a bad fin decision