Just say no. Even though the interest rate loan is dropping a bit in July to 6.84%, its still a really bad idea to take on that debt.
I don’t think we know there is a packet in this case, or if mom did FA paperwork- just that Dad dididn’t. Even cutting into some of the debt with a Plus is bad. It still adds up.
So that part’s easy. The remaining issue is really what is this girl actually qualified for? And what “could” she attain in college admits?
But we don’t know her stats, her true art talent, her ability to tackle digital media, whether she has a portfolio that stands up to scrutiny.
It’s easy to get lured by a school that says, we’ll teach you. Can be a lot harder to get into a program that vets your talent first. Dad needs to learn where she stands.
There is no current crisis if this kiddo has no graphic talent, no portfolio, no samples of work.
If she has none of the above, she could very well be pursuing a pipe dream.
^^^
Good point!
Has the dad asked his daughter or the mom what talents has the daughter exhibited in this area to even warrant any of this? (I’m not saying that if a portfolio exists, that it would justify this debt, I’m just wondering what evidence is there that this dau even has the talents for this?)
The current crisis is that daughter may well dig herself a nice deep financial hole despite her father’s advice and counsel. Loan officers aren’t going to care about her portfolio.
I’m not artistic and I’m not an art critic. I really have no idea what is considered good art or bad art, what constitutes someone having a future in the Arts, etc…
You draw a stick figure and put some hair and lips on it I d probably call that pretty good.
I have not seen any of my daughters “portfolio” or anything else. She would always draw some stuff when me and her where visiting my Mom, but it was not anything I’d consider elaborate. You all have to understand, I haven’t seen my daughter for a year. It’s usually twice a year at least but couldn’t make it back home at Xmas last year. I am not around her everyday.
I do know she had to take some of her Art to this school for acceptance. And she was accepted. For a nice, tidy amount of 58k for an associates degree.
I will make it a point to ask about the SAT scores and such when I see her in a couple of weeks. I’m assuming they applied for the federal aid because she received 8k in that amount. The other 50k has to come from private loans.
I actually broke my rule yesterday and messaged my ex with a link to that article and mentioned to her about the problem this school is having with finding decent jobs for their graduates and could lose any federal aid because of it and mentioned the pretty crappy graduation rate as well. She said she is done discussing this with me and should contact the school with my concerns. I wanted to say “why the hell do I need to contact the school? The president of the damn school is saying in that article herself they are having problems finding decent jobs for their graduates.” But I didn’t. I didn’t say anything else.
There’s really nothing I can do at this point but refuse to cosign anything and hope it falls thru. No one wants to hear what I have to say at this point unless it’s me telling them I’m opening the bank up.
I’m at peace with my decision but at the same time this is stressing me the heck out. I need a drink…or ten. TGIF
So, @maintainin, you just might want to take Ex up on her offer and call the school to find out what is going on with their status for eligibility and what technically happens to daughter’s $8,000 of federal loans if the school does lose that eligibility. Is her promissory note still binding? Are the funds disbursed this year anyway? What happens if she receives federal loans this year but can’t borrow next year due to a loss of eligibility in the meantime - what would they advise the students to do? I’d keep this conversation just to the financial aid director and not President Berry (who would no doubt give you all sorts of assurances as to the school’s viability). You don’t want assurances - what you want are answers to a specific scenario. I’m betting you would not be the only parent asking this question.
The timing of that eligibility is interesting because it might affect incoming students who may well find out in July that their federal funding has been eliminated. Tuition is usually due late July or Aug. (not sure in SAA’s case) after loans are disbursed. But it could be that loans are only disbursed contingent on good standing as of July 1st. You would definitely want to know their procedure on how to handle this situation. Plus you should ask whether they have disclosed this risk to their current and incoming students. You definitely want your daughter’s rights as a student borrower preserved and your call and questions will certainly make that clear to everyone: your ex, your daughter and the school.
Contacting the dept. of Education (their federal loan people) might be useful as well. They should give you a straight story. You should certainly name the school and your concerns. Perhaps you’ll find out info. that will be crucial to share with your daughter and ex (and when she again says “call the school” you can respond: “I did - AND I contacted the student federal loan program as well.”)
All excellent points @mamelot. I think it said “Beginning July 1st” so I’m not sure if there’s a specific timeframe after that they have to start meeting the requirement or what. Something else I need to investigate.
I wouldn’t bother to contact this school. If the fact that the school may lose federal funding in the next 6 weeks doesn’t faze OP’s ex, nothing he says will. She’s chosen not to hear anything other than the answer she wants.
@austinmshauri. I really didn’t expect her to say anything different. I’m just hoping maybe…maybe it plants that little seed of doubt in her mind and maybe that grows. I doubt it though. If she has no problem with the fact my daughter is going to have 58k + interest and fees for an associates degree(a point I’ve tried to drive home repeatedly) and the biggest W.T.F. in this whole crappy situation, then nothing will.
<<<
I do know she had to take some of her Art to this school for acceptance. A
[QUOTE=""]
[/QUOTE]
This school is desperate for people’s money. They probably would accept YOU if you applied. seriously. 
Go back to your rule of not talking to your ex. You have your position. It’s a sound one. I don’t know if your ex initiated the contact, but if she did, I suspect it’s because her H won’t go along with them signing the first loan. I suspect that there’s a reason why your dau mentioned that you are supposed to sign the loan for the first year.
I bet the whole plan is unraveling and that’s why your ex is getting more nasty. Just let it dissolve and be proud of yourself that you have SAVED your daughter from this mess. No matter what they say.
My mom and I are going to see her graduate May 30th(and she’s coming back to Ky to spend a week with me and mom at my moms residence). They are having a graduation party that evening at my ex’s house to which we have been invited. A little uncomfortable with that considering the whole situation. I don’t want any drama, especially on their turf. Do we go or politely bow out and just pick my daughter up the next morning?
@chris17mom. She hasn’t really been nasty. She’s been short and called me arrogant once, whatever that was supposed to mean… She’s pretty much just taken the same line I have(or have tried to) and refusing to discuss it with me anymore. Problem is I’m right and she’s wrong. lol. Maybe she’s hoping I crack. Which is not going to happen.
There are multiple red flags about this school/program.
Number one: They admit two thirds of their applicants. Is the stick figure with a mustache a qualifying portfolio?
Also go back to the sites that will evaluate her talent online.
@maintainin Well it’s good that everyone is being pretty civil and it sounds like you are holding up very well even under all this pressure. How do you think the social event will play out? Is there a chance it will turn into a confrontation? If that’s the case I’d probably avoid it…but if you think everyone will be respectful then I’d go. It seems like you don’t get enough time with your daughter, so I’d think it would be nice to see her. Good luck!
<<<
I bet the whole plan is unraveling and that’s why your ex is getting more nasty.
[QUOTE=""]
[/QUOTE]
I do think the plan is unraveling. I think the reason why she hasn’t gotten nasty is because she really needs @maintainin to go along with this. Very likely, her own H has similar reservations.
I also wonder if the mom realizes that she and her H will have to sign the D’s lease as well.
[QUOTE=""]
My mom and I are going to see her graduate May 30th(and she's coming back to Ky to spend a week with me and mom at my moms residence). They are having a graduation party that evening at my ex's house to which we have been invited.
[/QUOTE]
So, you and mom go and stay closely together chatting with people that you know and like. You don’t have to stay a long time. It’s doubtful that your ex will want to say anything inappropriate at the party, but if she does, then you and mom can make a quick exit.
Be prepared, though…Graduation parties are usually occasions where “the next step” gets a lot of attention.
@chris17mom. I guess I don’t know? Her mom might be frosty or maybe she will set it aside for the evening? I could deal with that. I think I could put it aside for the evenings sake and celebrate the event. Just not sure on her or anybody else. Heck, maybe somebody might pull me aside and say They don’t agree with it either. But with the way things are it just makes me uncomfortable.
My daughter, God Bless her, sent me a text saying that she still wants me and my Mom to come see her graduate and she still wants to come visit. She also mentioned that she doesn’t want to talk about any of this while we are together. She said she doesn’t want it to ruin our time together. I think she’s sincere about that. But I also take it as her way of telling me she’s done discussing this with me as well. I love her to death. I don’t know how it’s not going to come up. There’s so much I want to say to her and ask her.
Wow this is such a hard situation. 
But it sounds like there is a lot of love between you and your daughter, so I would definitely want to be there for her on her graduation day, and even the party. I think all you can do now is stick to your position, but still try to let her know that you will always love her and be there for her.
[QUOTE=""]
I also wonder if the mom realizes that she and her H will have to sign the D's lease as well.<<<<
[/QUOTE]
For sure. Daddy in South Dakota isn’t signing an apartment lease in Dayton, OH.