“I Wouldn’t Touch This With a 10-Foot Pole”

The podcast discusses a caller's situation where his mother is pressuring him to intervene in a dispute with his brother regarding a Parent PLUS loan they both co-signed. The hosts advise the caller to stay out of it, as it's not his battle to fight, and suggest that the original parties involved have an open conversation to resolve the issue. Ultimately, the podcast concludes with a strong recommendation against taking out Parent PLUS loans, emphasizing that co-signing debt with a child can create tension and financial burden.

Caller's Brother's Loan

• 00:00:06 A caller seeks advice on how to approach his brother about paying off a Parent PLUS loan co-signed by both his brother and mother. The caller believes his brother would listen to him more than their parents, but is unsure of the best approach. The advice given is to stay out of the situation, as it is a matter to be resolved between the original parties.

Co-signer's Responsibilities

• 00:03:18 A co-signer is responsible for the debt if the primary borrower defaults, meaning if the parents don't pay the loan, the co-signer (in this case, the brother) is responsible. If both the parents and the student signed, the student will likely be financially responsible when the parents are no longer able to pay.

Parent PLUS Loan Advice

• 00:08:09 The hosts strongly advise against taking out Parent PLUS loans due to the potential financial and interpersonal strain they can create. Co-signing debt with a child is not a gift and can lead to conflict. Instead, they encourage parents to consider other funding options and to have open and honest conversations with their children about financial responsibility.