<p>I have a good friend who had approximately $20,000 in financial aid when she graduated from college in 2005. She has not obtained student loans since graduation.</p>
<p>As of today, the balance on her student loan account is $65,000. Her son has been using her information to gain access to money and racking up more debt from 2009-2014.</p>
<p>My friend has been through some very rough times and if currently not on good speaking terms with her son, or her mother (who backs her grandson.)</p>
<p>The son is divorced and has two young boys - one in school and the other is younger. If she turns him in for this fraud, he will certainly lose any and all custody of his boys to a wife who is a nutcase. Then again, he's a thief which makes him worse than a nutcase in my eyes.</p>
<p>What would you do if you were me? What would you do if you were my son?</p>
<p>Its her choice what to do not yours.</p>
<p>I should have worded that last question differently…What would you do if this was your son?</p>
<p>I would not have him arrested. I would lock my credit.</p>
<p>Please clarify. Are you saying her son has taken our student loans in her name? Are these federally funded loans? </p>
<p>Was the $20,000 in financial,aid loans your friend had taken out prior to 2005? Was she paying those off those loans?</p>
<p>This story makes no sense.</p>
<p>But of the son is actually fraudulently getting loans in his mother’s name, I would call a lawyer first, and then the police.</p>
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I have a good friend who had approximately $20,000 in financial aid when she graduated from college in 2005. She has not obtained student loans since graduation.</p>
<p>As of today, the balance on her student loan account is $65,000. Her son has been using her information to gain access to money and racking up more debt from 2009-2014.</p>
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<p>???</p>
<p>how could the son take out MORE student loans in the mom’s name if she wasn’t in school? Or did the son take out Plus loans in her name for another student? </p>
<p>First have the mom contact the school(s) where those extra loans originated. The school needs to explain how student loans were taken out in HER name when she wasn’t a student there. </p>
<p>I do not see how the son was able to take out student loans in her name unless SHE is in school or if HE is a dependent and taking out PLUS on his behalf. Student loans proceeds are not sent to you directly in a check. THey go to a school where you are a registered student and are limited by the Cost of Attendance at that school The school takes out he tuition, and whatever other direct billed items first and then the student or parent has access to what’s left. So I don’t understand how the son got student loan money with her name on it.</p>
<p>However, yes, it is possible to steal from others by using their credit history, personal info including SSN and taking out a loan in their name and or as a cosigner or guarantor, and cashing the check that is obtained. I suggest that if this person is having this issue, for her to sign up with some credit/identity service that will alert her any time her private info is being used. That way any time a credit check is done, she is notified and can put a stop to it if she did not initiate it This is the same process anyone has to undergo when identity theft occurs. </p>
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As of today, the balance on her student loan account is $65,000. Her son has been using her information to gain access to money and racking up more debt from 2009-2014.</p>
<p>The son is divorced and has two young boys - one in school and the other is younger. If she turns him in for this fraud, he will certainly lose any and all custody of his boys to a wife who is a nutcase. Then again, he’s a thief which makes him worse than a nutcase in my eyes.</p>
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<p>I wonder if you have some wrong info. I wonder if she now owes $65,000 in loans, but they all aren’t student loans. I wonder it the son illegally used her info to get a private loan to help pay for his divorce and custody battle and his other costs? </p>
<p>I just don’t see how he could get federal student loans in his mom’s name when she wasn’t in school. Ask for some clarification and come back with more info.</p>
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<p>Weird that granny is backing the grandson unless granny doesn’t know about the debt or perhaps she gave him the idea to use her credit into to get those loans.</p>
<p>Unless she wants to really cramp her lifestyle and her retirement by paying back debt that isn’t hers, she should contact the lenders and get her name off those liabilities…even if it gets the son in trouble. </p>
<p>BTW…I don’t think he will necessarily lose custody even if charged with fraud. Crimes that don’t hurt the child don’t often change custody…unless he goes to prison.</p>
<p>What she could do is tell her son that unless he makes constant payments for HIS portion of the debt, she will turn him in. </p>