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Is a parent responsible for making payments if student or child fails to do so with FAFSA?
Wiki User
∙ 11y ago
This depends on who is responsible for the loan. If this is a PLUS loan, then yes, the parents or guardians are responsible for paying for the loan. If this is a loan that they received on their own, then they should take other action before asking their parent(s) or guardian for help. They should speak with the provider (a phone number is on the bill) to find out if they can lower or defer payments, before the loan goes into default.
Wiki User
∙ 11y ago
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If a parent cosigns on a car loan with hisher child and the child does not make payments can the stepparent be held responsible or have their credit rating impacted if the payments are not made?
The cosigner is responsible for the loan and payments if the signer does not pay or keep up the payments. Your credit rating can be affected.
Are you responsible for car payments if the loan is in your parent's name?
Did your parents get loan and the car for you with the intention of you paying the payments? Then yes, you are responsible. Use this opportunity to help get some credit in your name. Pay the payments by checks on time, and when you need some credit you can show the cancelled checks or your bank statements with the same payment amount being taken out of the account monthly. A lender will take that in consideration. No. You're not responsible for the payments. If you don't pay, then you are a car thief. They can report the car stolen, and you go to jail, and they get their car back.
Do you have to pay off the Wells Fargo student loans myself?
Most loans require students to pay back the money as soon as they're out of college and have a paying job. If a parent wants to pay back the loan their student has took out, then the student won't have to pay. However, students are responsible for paying back loans like the Wells Fargo Student Loan.
Can parent claim child and their student loan?
yes
Can a minor take out a loan if their parent cosigns and if so is the cosigner financially responsible for the signer?
Yes, your parents can cosign for a loan and if you are smart keep up the payments on that loan as it will give you a good and early credit record. If you don't keep up the payments it's a lousy thing to do to your parents, and they will be stuck paying that loan. Marcy
Are the parents of a male who cannot pay his child support responsible for making the payments?
No, only the biological or legal adoptive parent is financially responsible for the care of their minor child/children.
Is there a way for a former student to take on a PLUS loan from a parent and be responsible for payments?
No. You'd have to get a personal bank loan in your own name and use it to payoff th eplus loan.
If a parent cosigns on a car loan with hisher child and the child does not make payments can the stepparent be held responsible or have their credit rating impacted if the payments are not made?
The cosigner is responsible for the loan and payments if the signer does not pay or keep up the payments. Your credit rating can be affected.
Why is teacher considered as a surrogate-parent?
because the teacher as a second parent of the student is also responsible to provide parental care.
18 year old student is parent still legally responsible to provide shelter?
No
Does abandonment end child support?
No. The parent is still the parent and responsible for the child abandoned or not. The child support payments will just keep adding up until the person is found.
Can a custodial grandparent seek payment from non-custodial parent during the period while the parent is in jail?
Yes, however if the parent has no source of income while in jail, the payments may be deferred until the parent is no longer incarcerated. They will accumulate however and the parent will be responsible for paying them once they are out of jail.
If a daughter received an unsubsidized Stafford Student Loan are the parents responsible for payments if she stops paying on it?
No. Only the student who signed the promissory note is legally obligated to repay the loan. Stafford loans do not have credit requirements or cosigners; in fact, the borrower no longer even needs to be 18. Parents may be contacted by the loan holder if they were listed as references, but only for the purpose of trying to locate the borrower. In the past, Guaranteed Student Loans did sometimes have parent "endorsers" who were responsible if their son or daughter did not pay.
What is the different between a parent loan and a student loan?
Parent Loan: A parent is getting the loan Student loan: A student is getting the loan
Are father and stepmom responsible for child support?
The biological parent is legally responsible for paying child support. A step parent is not legally responsible for paying child support.The biological parent is legally responsible for paying child support. A step parent is not legally responsible for paying child support.The biological parent is legally responsible for paying child support. A step parent is not legally responsible for paying child support.The biological parent is legally responsible for paying child support. A step parent is not legally responsible for paying child support.
Is step parent responsible for anything?
Is a step parent responsible for a disabled child
Do you have to pay back child support if you and your wife divorce?
If there is a support order in affect the obligated parent is responsible for keeping payments current and paying any arrearages. If the order was mandated after the divorce decree and the couple lived separately there may still be arrearages for support that the non custodial parent is responsible for paying.
