Parents, how would you feel asking for financial help from your child? ?
If you owe a substantial amount of money in direct parent plus loans, and your child recently graduated from college with a high paying job, how would you feel about asking them to help pay if off?
- LiliLv 73 weeks ago
Children should pay off the loans that paid for their educations. Their parents should never be responsible. I wouldn't have dreamed of expecting my parents to pay off any educational loans that benefited me, and neither would my husband.
This isn't asking for "financial help". It's expressing an entirely reasonable expectation.
- ibu guruLv 73 weeks ago
Define "high-paying job?" is it enough to cover all basic living expenses, given the high cost of rents so many places, health insurance, any student loans, expenses of a modest car if needed to get to work, etc.? If those funds are ample, then discuss financial matters with your adult-child.
You are obligated to those loans, but no reason not to ask your child to help pay them off if the child is earning enough to cover all the fundamentals, get a decent start at establishing full financial independence. Especially if you spared your child from having to take out any student loans themselves.
- MSLv 73 weeks ago
I think it's a reasonable request to make, but I think an agreement about repayment should have been made before the loan was taken.
- nancyLv 73 weeks ago
I think that would be a perfectly reasonable thing to do. After all, it is the student who benefited from the loan, so when he/she becomes able to contribute, he/she should.
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- GypsyfishLv 74 weeks ago
I don't understand what a "parent plus" loan is. Was this a loan you took out to pay for your child's education? If so, then of course you can ask that child to help pay the loan off. There might be other reasons, too. My sister helped my parents pay off their mortgage, then they paid her back without the interest rate they had been paying.
- sunshine_melLv 74 weeks ago
The child would also have loans... and would need to finance their own life from the job.
Assistance? Perhaps. But don't expect them to pay your debts.
- Nicey8Lv 44 weeks ago
Try to settle it yourself. It should be last resort
- Anonymous4 weeks ago
The most l wouId do is maybe just casuaIIy mention that l'm stiII paying the parent pIus Ioans and Iet them decide what they want to do. HopefuIIy if they're making decent money, they wiII heIp their poor mother/father out. lf you took that Ioan out, it's your responsibiIity and not your chiId's, but hopefuIIy your chiId is understanding enough to know that you did that for them and take over it from here now that they have a job.