Saving Our Son From Student Loan Hell

Our son is trapped under some hefty student loans and we would like to help him out. Can we afford to do it?
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[@billcunningham5316]

The next call will be "how do we deal with a kid that won't pay us back for the loan we paid for him?".

[@mcalp002]

Delay payment for parent loan for 5 years at no interest. Aggressively pay down the other two loans to make them payoff in 5 years at $1500-2000 a month. Begin paying parents back after those two are paid in full. Total pay off time frame should be 10-12 years, if done that way. His income will increase making things much easier by the last 5-7 years. They may also just consider capping the pay back amount to 96-120k. God speed! Been there, done that. FYI: Getting a 2nd job to pay down student loan debt goes a long way.

[@JoelSchretenthaler]

The only change I would make is not charging interest to my child. An interest free loan is what I would do for a family member and especially a child

[@jeremyball9443]

Doesn’t matter what the interest rate is if he never pays you back…

[@tedchekan6929]

Geez, this is a money show for people who don’t have money woes😂, I would help my son without hesitation on this loan, 2.5 million in savings, gosh I’m out on this show. No help for most of us I think