Our dad took out parent plus loans for myself and my two younger brothers, with the understanding that we (my siblings and myself) would pay for these loans after we graduated, which we have, diligently and with no problems. Our dad has since retired and his income is now close to zero, so we see an opportunity to lower our monthly payments by consolidating and applying for ICR.
If we consolidate the loans and apply for income-contingent repayment:
Will my youngest brother (a sophomore in college) have any problem taking out future parent plus loans in my dad's name, due to my dad applying for ICR?
Will my dad have any problems requesting a small business loan or any other private loan (say, for a franchise opportunity he is considering), if he applies for ICR?
Thanks so much for your thoughts!
Submitted August 17, 2017 at 08:34AM by jamespeopleplay http://ift.tt/2uLdS9G
