Student loans are very much a part of life for lots of aspiring college graduates. It’s the rare person that can get through college without some sort of student loan. But all loans are not created equal and sometimes loans can spill over from student to parent if care isn’t taken. We’ve tried many times to make sure that parents understand the potential issues that may arise when co-signing these sorts of loans. We’ve also tried (many times in vain) to help parents understand that their own retirement sufficiency may be more important than their children’s education. Parents approaching retirement simply have fewer options than their children, with their lives before them, have.
WSJ’s Kelly Greene has written an excellent (and mildly depressing) article here that just may open the eyes of many.