What To Do If Your Child Forges Your Name For A Parent PLUS Loan

Parenthood is full of ups and downs, but throughout it all there is the hope that you’re raising your children right. That comes with a desire to help set your child up for a successful future. When it comes to college, that may mean taking out Parent PLUS loans to help cover the high costs of higher education.

Taking on PLUS loans is a big decision. With high interest rates and essentially no borrowing limit, parents can get themselves into trouble easily. Especially when they should be focusing on their retirement savings, parents should think long and hard before taking out loans for their kids’ college education.

But what if your child takes that into their own hands? It’s not unheard of for kids to sign up their parents for PLUS loans.