Student Loan Debt Puts Financial Stress on Many Parents Today
Summary: As parents, it's only natural for us to want to see our children succeed. However, by co-signing on expensive student loans without the proper budgeting and preparation, have you opened your family up to serious consequences down the line?
"Many young borrowers will find themselves limited by the funds available via federal student loans, scholarships, and grants. This is where parents enter the picture; we all want our children to do well, and while education is key to success for many, it is expensive. Private student loans, while more expansive in funding than federal, are generally more difficult to acquire, as they require the borrower to have good credit. That may be no easy feat for an 18-year-old, and for that reason, co-signers are often required, keeping parents in the hot seat for many years down the line."
Read the entire article on the official Fitzgerald & Campbell, APLC blog.
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