2007-01-17 02:47:28 · 5 answers · asked by sueanne 1 in Education & Reference ➔ Financial Aid
If your parents default on the student loan their credit will be affected but yours will not as long as you hold no signatures on the loan. The tricky part is to make sure that the school received the funds from the loan and that the parents didn't default against the school. This would make you unable to continue your education there along with not allowing for transfer credits or even your degree until the debt was repaid.
2007-01-17 03:32:32 · answer #1 · answered by Lori D 2 · 0⤊ 0⤋
They will not be able to borrow a PLUS loan for you but it should not effect what financial aid you receive in federal grants or stafford loans.
2007-01-17 11:24:09 · answer #2 · answered by appylover 4 · 1⤊ 0⤋
I dont think it affects you unless you're a co-signer on that loan. If that loan is in their name, then that is their responsibility.
2007-01-17 10:55:12 · answer #3 · answered by WhosThatGirl? 3 · 0⤊ 0⤋
Your parents will be affected credit wise, but you will never see your college credits, or diploma if you already finished.
2007-01-17 11:01:24 · answer #4 · answered by Hummbaba 5 · 0⤊ 0⤋
who/what are you?
2007-01-17 10:56:12 · answer #5 · answered by ari-pup 7 · 0⤊ 1⤋