Best answer
Not responsible
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Do parents have to repay federal student loans?
Only the student is obligated to repay these loans. Parents are not responsible for repaying their children’s federal student loans and cannot cosign these loans. If the child defaults on a federal student loan loan, only the child’s credit is ruined. Federal student loans are not reported on the parent’s credit history.
Are federal student loans reported on a parent’s credit history?
Federal student loans are not reported on the parent’s credit history. Parents are not responsible for repaying their child’s federal student loans even if the child is or was underage.
What happens if a child defaults on a federal student loan?
If the child defaults on a federal student loan loan, only the child’s credit is ruined. Federal student loans are not reported on the parent’s credit history. Parents are not responsible for repaying their child’s federal student loans even if the child is or was underage.
What is a Parent PLUS Loan and who is responsible?
The Parent PLUS loan is borrowed by the parent of an undergraduate student to help pay for the student鈥檚 college costs. Only the parent is responsible for repaying a Parent PLUS loan, but there is no obligation to borrow a Parent PLUS loan.