Tag: debt relief

Co-Signed Student Loan Nightmare: A Parent’s Dilemma
February 20, 2024 Off

Co-Signed Student Loan Nightmare: A Parent’s Dilemma

By The Admiral Staff

A parent co-signed a student loan for their 18-year-old daughter who then dropped out of college and now has $20,000 in debt. The parent, living on Social Security Disability, is concerned about being held responsible for the loan payments. The advice given is that the parent will likely be liable as a co-signer, particularly since these are likely private loans. Suing the daughter is discouraged due to her lack of funds. Instead, the parent should

Student Debt Reset: What Forgiveness Means for You
November 9, 2022 Off

Student Debt Reset: What Forgiveness Means for You

By The Admiral Staff

The Biden administration has forgiven up to $10,000 in student debt for borrowers earning under $125,000 annually (or $250,000 for households), with up to $20,000 for Pell Grant recipients. Interest rates and payments on federal student loans are frozen through December 31, 2022. The article advises borrowers to consider their individual circumstances – whether they have private loans, their remaining balance,