Parents took out Parent PLUS loans for me - am I legally responsible?

Education

So I just found out my parents have like ,000 in Parent PLUS loans they took out for my college. They've been struggling with payments and are now asking me to help. I feel terrible but Im only making k and have my own loans too. Am I legally obligated to pay these? Morally I feel like I should help but I literally cant afford it right now. This is causing huge family drama.

Sarah Taylor

3 Answers

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Legally, no. Parent PLUS loans are 100% in your parents name. Youre not on the hook legally at all. The loans dont show up on your credit report and collectors cant come after you.

Morally thats between you and your family. But heres the thing - you cant pour from an empty cup. If helping them means you cant pay your own bills or save anything, thats not sustainable. Maybe offer what you can afford (-200/month?) and help them look into income driven repayment options. Parent PLUS borrowers can consolidate into a direct loan and then access ICR plans. Their payment could drop significantly based on their income.

Ryan Robinson

Legally you owe nothing on Parent PLUS - thats your parents debt. But the family dynamics are hard. I give my parents /month to help even though I dont have to. Its what I can afford.

Andrew Jackson

Your parents should look into ICR after consolidation. My moms Parent PLUS payments dropped from to after she consolidated and went on income contingent repayment.