Don't skip these steps when borrowing parent student loans
Many parents take out student loans to help pay for their child’s education. But not all of them share that information with their son or daughter. That silence is an easy misstep for parents who decide to borrow student loans in their own names. Other problems can include unaffordable payments, unclear expectations around repayment and not taking advantage of an opportunity to help the child build credit. To help prevent student debt from derailing their family, parents should assess their financial situation and talk openly with their children before borrowing student loans.
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