<p>However you missed my point.... your daughter can take out the loans- they won't impact your credit rating or borrowing power if you need it down the road. The bank doesn't care whose signature is on the check... so you can make the payments (or anyone else who cares to....). It just preserves your financial options down the road, since presumably you have other obligations which could affect your financial situation. Again- if you have the cash to make the payments-- great, but as long as the loans are in her name, you've got some protection if god forbid you need to help your other D, you become disabled and unable to work, need to assist an elderly family member with medical expenses, etc.</p>
<p>Blossom....that is a good point as well. SOME of the loans are in our kids' names because the colleges' FA does it that way....like Stafford and Perkins Loans. For the part we have to pay, some we pay and some we take out Parent Plus Loans for. I see your point in putting all the loans in the child's name but I hadn't thought to do that. As you say, paying back the loans in their name IS OUR CHECK. Same with any other relatives who may pay back any loans for their education...the schools don't care who pays it back. But we do have some loans in OUR name but I appreciate your pointing out some considerations for putting ALL of the loans in their name. We haven't done that though. The loans from the colleges are in their names but the loans we have had to take to pay the balance of what we can't pay now, are in our names. I see your point that if we were unable to pay the loans we'd have protection. But by the same token, if loans are in her name, she is not protected. Becoming disabled would be a problem on our end, for sure. We do have life insurance. We don't have to assist elderly parents financially as they are fully set up to take care of their financial needs long term. The way our family through the generations works is just the olders set up the youngers. My kids are fortunate to also have grandparents on both sides who will help to make their educational futures a reality as needed. I feel we have it covered. It's a hardship on our end and will take a long time to pay off the part we have to pay, but it is doable. We just can't do some other things that others might be able to do with the funds instead of paying for grad school.</p>
<p>Hi. I shouldn't have started my own thread...should've just posted here. It's been at least a couple of years since I've posted, due to a lapse in my ever-dwindling memory (see Parent's Cafe thread for reason.) According to CC, my last posting was back in May 2005! DD ended up at a small LAC after taking a gap year. Some of you with excellent memories (I'm not being sarcastic here)might remember that we had visited 19 campuses in two weeks back in 2005. Can't believe we did that. I think with D2, we'll narrow it down a lot more before we do the visits!</p>
I’m still here. S1 graduated May '13 and had a “real” job offer waiting. He is still with that company. S2 is a junior in college, on an athletic team and carrying a full class load so he can finish in 4 years. Both guys are happy with the schools they chose.
I thought I had posted on this thread back in '07 but evidently not.
That was the year D1 graduated with a BS , after a very circuitous and sometimes painful journey of 6 years. Started a PhD program but didn’t finish (another long journey). Today however, she is happy and healthy, working a job that didn’t need a degree (self-taught coding skills). She is getting married in the fall.
D2 graduated from high school the same weekend and enjoyed 4 years at her small LAC, followed by 2 years in a job that convinced her to get a Master’s in a related but different field. She’s half-way through that program.
I found my old post! Mine are done, launched and off the payroll. Proud of them. One of my s’s went to the same undergrad as concernneddad’s son (not at the same time, though). Concernneddad’s s is an anesthesiologist. He should also be very proud.
Our S is still fully employed in his field of EE and still 5000 miles from us. D is still working on getting healthy enough to hold a job, but she did get a degree and has two excellent specialists treating her. She has been doing significant free lancing in her field. She lives 2500 miles from us, near her college campus.
I found my old post too. DS got his masters in 2009, then toured with a brass group for a year, and then settled in the southwest. He is putting together a lot of things related to his major, and has picked up a lot of other skills too.
DD graduated from college in 2010, and then did a two year Peace Corps appointment. She is here now and working as an EMT. She will be going to professional school in August.
