I absolutely cannot afford to pay the Parent Plus loans due at this time. What can I do?

Asked over 2 years ago - Palmyra, NE

I had the understanding four years ago when I signed the first loan for my daughter that when she graduated it could be transferred to her. I now find out this is not true. I would like to transfer this to my daughter but her credit at this time is improving but I don't think she can get a loan to pay this off and make smaller payments. Is there any help out there for students to get a loan, especially when they are working full time making good money in their field? Thank you.

Attorney answers (2)

  1. Brendan Michael Kelly

    Pro

    Contributor Level 18

    Answered . As the first lawyer said, she will have to take out a loan and pay it off. Can she make the payment for you?

  2. Mitchell Paul Goldstein

    Contributor Level 20

    Answered . The only way to transfer it to her is to have her take out a loan to pay it off.

    You can contact the lender about programs like income based repayment.

    Mr. Goldstein is a Virginia-licensed attorney only. The information is not, nor is it intended to be, legal advice.... more

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