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retirement

No Income? No Problem! How the Gov't Is Saddling Parents with College Loans They Can't Afford

More than a decade after Aurora Almendral first set foot on her dream college campus, she and her mother still shoulder the cost of that choice.

Parents don’t regret this decision, but maybe they should

Parents often try to do what’s bestfor their children, including helping with studentloans and college tuition — but at what

costto them?

About 47% of parent cosigners felttheir children’s student debt had affected their retirement, according to a survey of 850

parent cosigners. More than 62% said their credit scores were negatively affected by cosigning private studentloans, and

40% said their decision to cosign has hurttheir ability to qualify for other types ofloans, such as a mortgage or car. Still,

Why paying for college tuition can destroy your retirement

Over the years I have seen many retirement plans ruined, simply because substantial amounts of investment dollars, originally allocated for retirement, were used to pay for college education.

"Bankruptcy laws allow companies to smoothly reorganize, but not college graduates burdened by student loans."
– Robert Reich
"If we don't change direction soon, we'll end up where we're going."
– Irwin "Professor" Corey
"There is scarcely anything that drags a person down like debt."
– P. T. Barnum
“This would be a much better world if more married couples were as deeply in love as they are in debt.”
– Earl Wilson
"Nothing in life is to be feared. It is only to be understood."
– Marie Curie
“What I would like to do... once I take care of all my kids' student loans, is buy a red 1965 Mustang and fully restore it.”
– Mike Quigley
The road to success is always under construction
– Lily Tomlin