“73 percent of borrowers over 60 are paying off student loans they either took out or co-signed to help children and grandchildren through college.”
>>“73 percent of borrowers over 60 are paying off student loans they either took out or co-signed to help children and grandchildren through college.”<<
73 percent of borrowers are idiots
I stupidly took out a loan for my daughter 10 years ago.
This month was supposed to be my last payment. I saved some in interest by just having it automatically deducted each month.
After I saw the payment had been made, I logged in to my account expecting to see a $0 balance. Instead, they had charged me $.01 in interest!
yup- caught my attention as well...no one is entitled to college nor do they have to go to expensive colleges...
We refused to fill out the FASFA information for our children. Refused them access to our tax information. This exasperated them and their school “advisors”.
Our oldest is still a little miffed about it, but guess what? We are debt free and all of them got their associates debt free while living at home. Two of them are pursuing more education on their own, but have aged out of the parental income FAFSA bullshit which is just designed to gauge how much they can gouge you for.
Just say no.