Anonymous
Anonymous asked in Education & ReferenceFinancial Aid · 8 months ago

Is there anything I can do about my parents taking out student loans under my name to pay their mortgage? I don’t live with them?

6 Answers

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  • Anonymous
    8 months ago

    You’re all a bunch of grasses, Karma will get you.

  • Anonymous
    8 months ago

    Yeah. Send the POS's straight to jail and have no sympathy for them whatsoever.

  • di
    Lv 4
    8 months ago

    When your parents apply for a PLUS loan through your school, they are signing a statement certifying that they will use the funds for expenses related to YOUR education - the penalty for using it for other purposes can be jail or a $20,000 fine, or both. If you seriously want to pursue this, you can inform your financial aid office or the inspector general, or both.

    ANY type of student loan MUST be approved by the school's financial aid office and the funds are almost always channeled through the school - the school would issue a refund check to YOU, not your parents....

  • KaleyK
    Lv 7
    8 months ago

    Using loan proceeds for other-than stated purposes is a criminal violation in every state. You can contact law enforcement but I recommend you consult with an attorney before getting your parents in trouble.

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  • 8 months ago

    Report them, that is fraud and will ruin your credit score.

    • di
      Lv 4
      8 months agoReport

      A PLUS loan is under the parent's credit score, NOT the student's.

  • Jim
    Lv 7
    8 months ago

    Report them.

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