If your child goes to college, are you cosigning for their student loans?
We are paying most of his college expenses, but he does have a few loans that he is applying for on his own. Since he doesn't need to start paying them off until he is finished college (he is going into Sophomore year) we will see what his and our finances are like to see if we can help him pay them off.
No we are not. I have two right now in college and they have a full ride except during the summer. During the summer I'm paying their rental apartment $1000 a month. I can't wait till September so I wouldn't have to pay till next June. But to me it's worth it. With my son who graduated we didn't pay an thing and he has about $10,000 in loans in his name.
If they need it I have no issue with cosigning. That being said my two oldest (to hard to tell about the little man yet) are very responsible and I wouldn't be concerned about them defaulting. I have emphasized the importance of them keeping their GPA up and applying heavily for scholarships. I am not financially able to pay for school for them. I am still cleaning up the financial mess I was left to fix after my late husband passed away. My oldest is currently rank #2 in her class. Her guidance couselor is already talking with her about which scholarships to apply for when she is able too. All that being said I have told them both if they go to school locally and commute they of course have free room and board and will cover things like clothes, food, car insurance, etc.
we are giving each child 4 years, with the requirement of good grades and morals. anything after that is theirs to pay for.
My Ds is going into his junior year and we are paying cash. We will also pay cash for my DD.
No student loans. My guys accepted the grants and scholarships offered, but no loans. We pay what isn't covered from their college funds.
No... we will help with some living expenses and books, but they are responsible for covering their tuition. If they get into a bind then we will help.
Connect with CafeMom:
Switch to Mobile Site
Getting Started Guide
Frequently Asked Questions
Part of the CafeMom family of sites
© 2014 CMI Marketing, Inc. All rights reserved.