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My mother, being the sweet lady that she is, bankrolled her stupid son through college. Eleven semesters and around 80k later I made it out with a high demand degree that lets me make decent money. Enough to not worry about having to pay around 100k worth of debt if I don’t splurge too often.

The only thing is the debt isn’t in my name. She always made sure to explain that these loans would have to be signed over once I found a job but as her health for worse we didn’t do that. Up until recently, my mom and I have taken advantage of the high interest rates in the market and the low interest rates of the loan to put a chunk of money on a few high yield savings accounts that will pay off most of the loan on payment plan and leave me behind with the money in the savings account in about 10 years or so if everything remains the same (an assumption as I haven’t made any calculations). Her health is rapidly declining though. Cancer has spread to multiple vital areas of her body and her doctors have not been too optimistic with her outlook.

So it’s looking like I will inherit around $250k. I’ve seen more and I’ve seen less, but both me and my mom’s concern is maximizing the amount I get. She doesn’t feel obliged to repay the government and I don’t either, and the idea of 1/3 of my inheritance going to the loans stings a little bit if I’m being honest. When I look on the fafsa website they seem to imply that loans are forgiven if the parent who signed for them dies. I know it seems macabre to be talking about this while dealing with death, but this has been one of the last stressful things we’ve been dealing with as a family. Has anyone else dealt with something like this?



Submitted December 18, 2023 at 09:58PM by These_Evidence4624 https://ift.tt/BWikVbR

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