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Liability of a Step Parent

Date: Sat, 02/25/2012 - 05:41
Submitted by Stepthisway on Sat, 02/25/2012 - 05:41
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I too would like to know what the Step-parent's liability is when the spouse wants to sign a PLUS or student loan for his daughter who is going to an institution that we "can't afford". We have been married 11 years. My husbands ego gets in the way and wants his child to go to a school that he can boast about. His divorce decree (prior marriage) indicates he and his ex have to split college costs. His ex says that she will not be paying for any college as she has been unemployed for 5 years and lives with a boyfriend for 7 years. My husband then proceeds to say..."that if she allows their daughter to go to this school (daughter lives with mother) he and his daughter will figure it out. I think they are forgetting about one important component. That is his current WIFE!
I have never been brought into any conversation about his daughter's education. I have been "told" what he is doing with the education. I didn't have a say when he put her into a private school which financially burdened us. It is a decision that we as a couple should be making together and not singularly. We didn't pay for my three children's education, they went to community college.
I have to think about this because I am 50 years old and have no retirement. Self employed. And he is going to incur debt (for both of us)... I believe in supporting our children, and helping with education but it has to be reasonable and with "our future" in mind. Not one or the other. In addition to that we still have to pay child support to the wife that doesn't want to help with education costs
.
I've talked about this with my husband but it doesn't matter, he is going to do what he has to do to get his daughter in this college. So I have to seriously think of my options before this gets out of hand. Am I liable for the student loan if he signs it?


Is your husband thinking at all about the debt that your daughter herself is going to incur going to private school? Depending on the tuition of this private school, she could walking out of school with over $50-$75k in debt. Has she chosen a course of study that is going to allow her to pay this debt? Has she qualified for scholarships? Is this school "just" for bragging rights or can the equivelent course of study available to her at a state school? Is she aware of what she will probably owe when she comes out of school? That she will more than likely have a small mortgage type payment waiting for her when she graduates?

Private schools are expensive and opting to attend them is a serious decision. The majority of degrees earned at Ivy league schools are really no better than most state colleges. I have a niece at Brown University...chemical engineering. She had the grades and she earned her scholarship that covers all costs. She worked her ass off to achieve this...but she was prepared to attend a state school in California if she was not offered enough of a scholarship. Her goal is to finish school with little to no debt. My sister and her husband were prepared to finance up to $10k per year...that is all they were willing to commit to ...and they both earn good money. However they were looking at the big picture....retirement and long term goals.

To answer your question....no you will not be liable for any student loans he signs for.

T


Submitted by SOAPLADY on Sat, 02/25/2012 - 06:33

SOAPLADY

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