Question:
Dear Steve,
My son left me with his student loans. Government loans $97,000 and a (cosigned) private student loan with Discover Student Loans $26,000. It seems I’ve been paying forever and the balance of the loan stays the same or goes up in balance. Discover keeps raising the rates and I will never pay off. I am 56 and need to save for retirement. Please help
Do you have any suggestions to help me out?
Jesse
Answer:
Dear Jesse,
Please post the response to these questions in the comments below so I can assist you.
1. Are the federal student loans Parent Plus loans or are they in his name?
2. What specifically was the Discover private student loan used for? Tell me what school and what year and if the loan was used for school expenses alone.
