Student Load assistance please
by The Mean Farmer (2024-04-22 08:59:48)
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My son married a girl a couple years ago and she has nearly $70,000 worth of student loan debt that we aren't sure what advice we can offer in a messy situation.


She is a VERY bright girl who comes from a very rural part of the south to a family of very rural people. She is the first to ever go to college in the family since ancestors settled on their land several generations ago.

Not knowing the system or having any financial understanding, when she started college her father signed a Parent Plus loan. Which means that the loan is actually in his name and not in her name at all.

Somehow he thought that the loan would magically transfer to her name when she turned 21. She is now over 21 and the loan does NOT transfer automatically!



She completed an undergraduate program last year and has started working in her career field. So the deferment clock ran out payments are now due.

As of a week ago she has been accepted to a graduate program as it is pretty much necessary for here line of work. Were excited for them.


Each semester or year a new loan out put opened for her to go to a particular school. Since graduation these loans were consolidated and are still in her fathers name.

Her parents are not in a financial position to make these payments.
My son in still in college full time and not making money.
She is working but they payment they want is over 24% of her income and they would need to be homeless to make the payment themselves.

The loan is owned by MOHELA. Which apparently was Bidens choice to lead the student loan forgiveness program? And also has been caught cheating the system and the payees and is may be removed from the program in the near future??? Anyway, their trustworthyness is in question.


The loan is in her fathers name now. So the payments are based upon HIS income, not theirs.

Since consolidation they say it is no longer a ParentPlus loan and therefore can not be put into forbearance or deferment. What type of loan could it be then?

Can this be transferred to her?

Can it be deferred?

Can they make interest only payments?

Is MOHELA telling the truth?

Can they get a new loan and deal with a different company?

Is MOHELA crooked?

Will Biden just eliminate these debts in the next couple months and we would have to worry about it?

And finally, how can I keep from getting in the middle of any or this!!!! While I would like to help where I can, I am NOT interested in becoming a pawn in her parents financial issues.






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