After listening to this call I'm about to text my mother right now who paid for my college 100% as a single mother and tell her how grateful and blessed I am for her. I'm so fortunate to have a mother who is basically a real life wonder woman.
@@taras4352 This isn’t the case though so why even mention that? That parent was 100% wrong in the situation and that’s what’s wrong with parenting. Parents can never do any wrong when it comes to their child. Children aren’t property
I remember listening to a podcast. This woman's mother not only stole her tuition money that her father paid for (Dad gave the money to Mom to be paid to the college), Mom also stole her identity since she was a little girl, so she already have a bad credit score since she came to age. Mom also stole Dad's father's identity, if I'm not mistaken. Even worse, Dad and Daughter found out about the debts and stolen money and identities after Mom died. So they couldn't even confront her about it. That Mom was the worst.
@@1bntcr001 the 20 years of interest isn't the daughter's fault. The daughter should pay only another $10K, plus maybe another $2K tops for what would have been reasonable interest if the loan was being paid on time.
@@megalodon1726 That is exactly what I said, although I think it would be closer to 3k-3.5k. Like others have mentioned, the daughter would have to google search for a compounding interest calculator for the amount and years applied to get an accurate number.
My dad said he would help me with my student loan payments when I was 19 in 2003, needless to say he didn't help at all to the 26k loan. I ended up paying it all off myself, when it comes to finance do NOT rely on anyone
Not wise obv but you don’t really think of those risks the same way when it’s your mom and you’re like 18 years old. Rare for a child to expect this to happen to where they’d have worried about paying cash.
@@eligreg99she didn’t pay the full amount that they agreed on of $15,000. She only paid $5,000. I agree she is only responsible for the $10,000 difference and should pay that off monthly to the lender directly. Mom should not be given the money. The mom is on the hook for the $55,000 since she allowed that loan to double overtime, poor financial management.
Girl - your mother swindled you out of thousands of dollars all while lying to you about it. You hold your head up high and tell her that this is HER debt, not yours. Seriously - th8s is a terrible excuse for a mother.
Daughter paid mom cash @ $200./ PMTS + THINKS it was about $5k... She should pay balance of HER HALF---which is additional $10k @ this point. Daughter should CONTACT the loan holder/get COMPLETE DOCUMENTS FOR THE ORIGINAL $30K LOAN 20 YRS AGO. THEN SEND HER PAYOFF OF $10K TO THE LENDING PPL/PPL WITH THE LOAN + COPIES + ALL INFO + PAPERWORK INVOLVED. KEEP THIS INFO/PAPERWORK/PROOF OF HER OWN PAYOFF FOREVER IN BANK SAFE DEPOSITU BOX OR OTHER SAFE SECURE PLACE FOREVER FOREVER FOREVER.... THEN HAVE MOM REPAY HER OWN PART OF THE DELAYED PAYMENT LOAN..OR NOT IF MOM DOESN'T CARE... OVER + DONE + NEVER MENTIONED AGAIN!
I wouldn't sit down with my mother and pay anything. I would write a check every month to the student loan servicer myself . There is no law against it, and as long as it's a payment they don't care who it comes from .they will not question it.
@@kellharris2491she benefited from going to culinary school and she lived off her mother while she was going to school (room board, food, laundry, probably helped her with transportation to work & school ect). She already said she wasn’t making that much guys, so where do you think this girl was living?!! I agree that she should pay the $10,000 (she already paid $5,000, only owe total $15,000 per agreement ) what they agreed to from the start and send the money directly to the loan servicer, do not give it to mom since she was irresponsible and allowed that loan to double. This girl should not be off the hook! She didn’t fulfill her part of their agreement either. Her mother is responsible for the rest, she has poor financial management skills. But the daughter is partially responsible for her part of that debt! Mom is responsible for the $55,000, too bad! 🙄🤷🏾♀️
Excellent answer! I like the way you handled this overwhelming problem! The daughter doesn't just walk away but she finishes making payments from her part of the loan!! The rest is up to her Mom!
I was in a similar situation. Needless to say, I make the payments directly to the lender. 👏🏾 The lender emailed my mother asking her how she was paying down the balance. 😂😂😂
right. Which is why mom can't expect her to pay it. It's not her debt. Not LEGALLY. A parent plus loan is a loan YOU as a parent take out and GIVE to your child. It's mom's debt. If she left it sit for 20 years and let it stack all that interest, that's on mom because she is the name on the loan.
When I was a in college, I asked my mother if I could apply for PARENT PLUS loan. Thank God she refuses. Our relationships would’ve been very different!
I think that's exactly what Dave would have said. This whole comment section getting swooped up in the over-the-top emotions Jade and John are promoting here. Pay her what you owe her and not a penny more. What she does with it is her business.
@@amythinks Just made a similar comment. This girl admitted to entering into a verbal contract with her mother to repay 50% of the loan. She clearly reaffirmed the contract after she turned 18 my making partial repayments. There is a valid contract and the girl has the burden of proof to show she made partial payments. If there was no agreement as to partial repayments then the court would imply repayment terms.
Wait. When she’s on social security they will come after her for it. My MiL took out a loan in 1982. 2008 when she applied for social security they started garnishing it. It had gone up a LOT in that time because interest and penalties really rack up
@@BusArch42 yes. student loan debt is the WORST type of debt you can have behind maybe owing uncle sam. They can come after everything you own, garnish it, put a lien on your property and force the sale, take money from retirement funds, and you can never bankrupt it. It is the type of debt you should run away from!
@@jgray690 absolutely. We taught our kids this and they are petrified of student loans now. Of course we also set aside enough to pay for in state tuition for four years and supported them in school such that they all earned full ride scholarships. They all opted to live at home and save money so they will finish school with 50k in scholarship exempted money that they can use to get started in life.
I do not get it. The culinary school cost 30k (or likely more if one adds cost of living) and did not give her good income perspectives (or did it get better after the first year ?) what is the point of going to culinary school when she makes minimum wager afterwards. Also: at least for a while the daughter lived with her mother after graduation. She gave her money for the loan but likely nothing for board. Mother may have invited her (because she worked minimum wage) but it can be taken into account.
It's not her loan though. There was no risk to the caller sending her mom the money because the loan was never in her name. Mom messed up and that's on her.
In my family We have heped one another with money always! My parents helped me and my brother. We both paid back a long time ago! We have helped our kids by lending them money, no paper signed only a promised made! It has worked out great. They have paid every month exactly what we agreed on. Never late, never asking for more… Now the eldest one has paid everything back and in a year the younger one will be done as well! I think you never heard of that working because you are on the Ramsey Show, people turn to you only when things go sour!
The daughter's $ 10,000 or $ 15,000 needs to be paid loan directly to the lender. I agree that if the daughter pays $ 15,000, the mom should go through Financial Peace University.
I think their payment plan conditions are necessary. However, she does owe $20k. The loan increased 2.3x and she never paid back the $10k. So her failure to pay $10k increased an extra $13k.
For sure, she didn't fully uphold her end of the deal, so she needs to go good on that. The other question I have is what the understanding on the $200 a month really was post-college. She said she was living with her mom at the time, so did mom think it was "rent" money of sorts? Regardless, mom hasn't made payments at all and is only asking about it 20 years later, which is also ridiculous. There is an argument that the 2.3x increase is the mother's failure to even address the issue of the loan for this length of time.
@prismatic125 sadly some people do but her mother apologized for not paying so she knows it was wrong. It wasn't for rent but your right she shouldn't charge her.
She should still pay more than 10k. Her 10k still accumulated interest after she stopped paying her mother. She ought to take a calculator for that 10k and see what the interest rate is and just pay off that portion for the 15-20 years where she didn't make payments.
She stopped paying her mother because her mother stopped paying the loan. She shouldn't be responsible for the 20 years of interest when it was her mom's non-payment which caused the loan to balloon with interest.
@@megalodon1726 she's still responsible for the interest the 10k accrued regardless per their terms. If she paid her 15k in full then all that would be left would be her mother's portion. Her mother shouldn't pay the extra interest because she stopped receiving payment. Interest accrued on that 10k she still owes.
She paid $5,000 and it was while she was living with mom. But much of this is due to mom's irresponsibility. There really should be a required finance class when taking out student loans that includes data on how much the career will pay and how much the payments will be. The daughter did not really pay her half, so I think it would be reasonable for her to help in paying the debt off, but she and mom have to sit down and figure out the how.
True story I’m a high school drop out My daughter came to me and asked For help with college. I said on one condition. No student loans. She agreed. Now she has a great life and no student loans.
Actually it’s both their responsibility if you count their verbal agreement. Technically daughter defaulted on her 10k (15k-5k). Add interest and daughter should owe 40% of that 70k debt (28k). Net Net it was a bad deal on both their ends 🤦♂️
@@anthonysandoval2949 the caller could have done a better job with tracking the money but i put this more on the mom because she was the adult and should have held her daughter and herself more accountable. it also would't surprise me if the caller didn't really understand the terms of the loan.
@Anthony Sandoval legally speaking that's all the mom 100% and it's not like she didn't give the mom a dime. Daughter found out she wasn't paying off the loan the Daughter gave her so it's justified that the Daughter doesn't give the mom any more money because this kind of mess happens
Her mom was dishonest! I would just start paying the company. This is financial abuse. And where’s dad, my father would yell and say nope never sign anything without me taking a loan in your name!
Well the mom has to deal with it. Stop all payments and give nothing to her this point forward. It's a parent plus loan. The mother is on the hook for it. So walk away.
I disagree with Dr. John on this one. I would give NOTHING to my mother. If you feel you still owe $10,000, you should pay that ten thousand directly to the lending institution because I guarantee anything you give your mother will go in her pocket and will NEVER be applied to the balance of the loan. The title said "My mother lied about paying back my student loans" but that is not nearly as strong as it needs to be. It should have said, "My mother is a thief who took the money I gave her to pay back my student loan and kept it instead of making payments on my loan." And darlin', you give your mother money and you find out she is not making the payments so then...... you continue giving her money. I must admit I'm a bit confused by that. She has PROVEN that she is a thief and a liar. Why would you continue giving her money, and giving her CASH at that so there is no way you can prove how much you have given her. I'm struggling to understand. Just because this thief is related to you does NOT make her less a thief! Do not EVER give this woman another cent for any reason. She cannot be trusted and her moral compass is so poor that she sees nothing wrong in stealing from her own daughter! Keep right on loving her, if you want to, but don't leave your wallet where she can get her sticky little fingers on it! This young woman's call was over a year ago so presumably she has reached some sort of resolution with her situation but I wanted to go ahead and put in my two cents' worth for the benefit of other young people who also have a dishonest parent who are cheating them out of their student loan payments.
Here is the fun thing. It was a parent plus loan. Daughter is not libel for ANY of it. That's what a parent plus loan is! If you take out a loan, it's yours. Mom was dumb to take it out and not pay on it for 20 years.
And I'll bet you a dime and a donut Mom doesn't have much if anything saved for retirement, and will try to guilt daughter into supporting her in her old age.
Totally agree…pay yourself. Just make sure you don’t save your payment method on the sight. After you think you’re done paying she could easily push the button to use previous payment method.
I agree that the daughter should take the rest of her share of the loan and make the payment directly to the lender, not to her mother! Her mom has no intentions of paying off this loan. She just wants her daughter to finance her lifestyle! It is a very sad and toxic relationship! I am sad for the daughter.
Parents, if you feel obligated to co-sign a loan, think twice. If you can't afford to pay for college, neither can your child. Work out a plan where you're not held 100% responsible. Your kids can go to a JC or work every other semester. Please do not go into debt.
Of course if mom took the money from her, you know since she didnt pay down the student loans, she must be in trouble elsewhere. Or she wouldnt need a 20k lump sum payment. Which surely isnt going to the student loans either.
Giving a family loan is high risk . The most you can do is have on paper. The only way you can get your money back, is to have them sign a contract; and include their social security number. I lost a significant of money to my sister; she felt since she was my sister; she did not have to pay it back.
The only time parents should pay for kids college should be if they can afford to. If they need to take out loans, find another way. Parents, dont sacrifice your retirement for your kids. Kids, find a way to fund college if that is your path.
My dad was perfectly honest with me when he took out my Parent Plus Loan my name on it but you paying it back he gave me the notice every month and I paid it thank God it was only 5,000 dollars
My mom took out a parent plus loan for me and I just login to the portal and pay it every month. It’s pretty simple in my eyes. My mom took it out for me but it was always going to be my responsibility to pay it. This situation is somewhat different because of the deceit…
She should be making alot more right? She should be a head chef right? At the very least? I don't know how she on minium wage. I'm not a chef or a cook so I don't know.
This is a Parent PLUS loan. Which means that the parent and ONLY the parent is liable for the loan. This is one of those crap loan options are fading away, but these were everywhere in the early 2000s.
Parents who forcefully require kids to go to college and avoid all other options are parents who need to face the costs of college. Otherwise give your kid other career options out there.
My mom co-signed on my student loan so I could finish my education. I paid it off, it was fine. She cosigned on my apartment in university, I never missed my rent payments. You guys never see it work out cause that’s not who calls in to your show 😆
My grandpa co-signed on my second car loan. I made sure that it was paid on time. I’m grateful he did co-sign but still super stressful because of the kind of person he was.
And an extra added safety net I would get a debit card just for this payment. One of the one and done cards. So then that way she's not keeping her information on the computer and using it for other uses. She sure scammed her daughter big time! I feel bad for her!
I’m grateful… I didn’t take out any loans and was very, very lucky and blessed for my school tuition to get paid for via Pell grants and scholarships. The one time my parents asked me to take out a loan to help with some bills, they promised to pay it all off. They kept their word and I couldn’t be happier. My heart breaks when kids get screwed over by their parents when there are empty promises.
100% It’s inappropriate to make the recipients of said Loan (30k for her to attend culinary school), feel as though they have zero culpability in the loan repayment. She should pay her mother back that portion absolutely but have a lawyer draft a contract for that re-payment plan, execution and sum total.
2003 and she didn't pay anything... fees and interest rate was racking up... student loan interest rates were 6-7% then... I know, cause I had a parent plus loan ...
I have payed off 5 loans in 3 months. It is so impotent to know who has the loans and just how much they are. Ask a lot of questions and pay close attention, don't just let things go for years. This is how things get out of hand and people start to fight over money.
- if this isn’t stealing from your kid, idk what is. She gave her mother money every single month for a specific reason, and her mother pocketed it. She forgave her mother and then her mother continued to steal from her again. Simple as that. So sad.
![I.N "HALLUCINATION" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/n5B5q1Hwt_U/mqdefault.jpg)
After listening to this call I'm about to text my mother right now who paid for my college 100% as a single mother and tell her how grateful and blessed I am for her. I'm so fortunate to have a mother who is basically a real life wonder woman.
Did you do it yet?
@@michaelb.8953 Yup
I dunno; texting Mom sounds super lame!
Call her. Not text.
@@siegfriedbraun5447 actually as a mom I like to see it in writing but also heard it said
People who betrayed their kids are the worst.
Kids who steal from their parents or only come around when they want money, are nasty too.
@@taras4352 This isn’t the case though so why even mention that? That parent was 100% wrong in the situation and that’s what’s wrong with parenting. Parents can never do any wrong when it comes to their child. Children aren’t property
@@taras4352 projecting guilty feelings much?
@@taras4352I hate it when people do crap like that. Trying to deflect from the current call is insane!
I remember listening to a podcast. This woman's mother not only stole her tuition money that her father paid for (Dad gave the money to Mom to be paid to the college), Mom also stole her identity since she was a little girl, so she already have a bad credit score since she came to age. Mom also stole Dad's father's identity, if I'm not mistaken.
Even worse, Dad and Daughter found out about the debts and stolen money and identities after Mom died. So they couldn't even confront her about it.
That Mom was the worst.
My mom cheated me out of money for student loans/college and it is heartbreaking. I feel this caller’s pain
She agreed to pay half. She paid 5k only. Just pay the other 10k. Then let her figure out the rest.
10k plus 20 years of interest...
@@1bntcr001 the 20 years of interest isn't the daughter's fault. The daughter should pay only another $10K, plus maybe another $2K tops for what would have been reasonable interest if the loan was being paid on time.
@@megalodon1726 That is exactly what I said, although I think it would be closer to 3k-3.5k. Like others have mentioned, the daughter would have to google search for a compounding interest calculator for the amount and years applied to get an accurate number.
Technically she owes 10k plus the interest
@@1bntcr001 She shouldn't pay no interest. It's not her fault her mom didn't pay it.
My dad said he would help me with my student loan payments when I was 19 in 2003, needless to say he didn't help at all to the 26k loan. I ended up paying it all off myself, when it comes to finance do NOT rely on anyone
Did it change or affect your relationship in any way?
@@camxdidxthat Co-signing is the reason why my best friend of 20+ years, is one of my worst enemies today.
Agreed!
I was on the same boat... same thing happened to me....
Good idea.
When she said over $70K is owed, I had to clutch my imaginary pearls. Oh Lawd! 👀🤦🏽♀️
Facts
I never give cash to people to pay anything
Not wise obv but you don’t really think of those risks the same way when it’s your mom and you’re like 18 years old. Rare for a child to expect this to happen to where they’d have worried about paying cash.
Parents, if you take out a loan, it's your loan. I don't care who, what, where, when, how, or why it's for. You're responsible.
Parents, don't do a PLUS loan thinking your kid will pay you back. Kids, don't pay your loans back via your parents.
I never loan more than I would give. Because if they don't pay it back, it was always a gift.
She actually was paying though. Her mom wasted the money
If you watched the video she paid her back. The parent is 100% wrong not the kid
To pay off my husbands plus loan, I got a joint account with my FIL. It was the first loan we paid off to get family out of the picture.
@@eligreg99she didn’t pay the full amount that they agreed on of $15,000. She only paid $5,000. I agree she is only responsible for the $10,000 difference and should pay that off monthly to the lender directly. Mom should not be given the money. The mom is on the hook for the $55,000 since she allowed that loan to double overtime, poor financial management.
Girl - your mother swindled you out of thousands of dollars all while lying to you about it. You hold your head up high and tell her that this is HER debt, not yours. Seriously - th8s is a terrible excuse for a mother.
She agreed to pay it as well and she stop so she technically responsible for $10k this is why parents are better off not helping there kids
6/22/24....
Daughter paid mom cash @ $200./ PMTS + THINKS it was about $5k...
She should pay balance of HER HALF---which is additional $10k @ this point.
Daughter should CONTACT the loan holder/get COMPLETE DOCUMENTS FOR THE ORIGINAL $30K LOAN 20 YRS AGO.
THEN SEND HER PAYOFF OF $10K TO THE LENDING PPL/PPL WITH THE LOAN + COPIES + ALL INFO + PAPERWORK INVOLVED.
KEEP THIS INFO/PAPERWORK/PROOF OF HER OWN PAYOFF FOREVER IN BANK SAFE DEPOSITU BOX OR OTHER SAFE SECURE PLACE FOREVER FOREVER FOREVER....
THEN HAVE MOM REPAY HER OWN PART OF THE DELAYED PAYMENT LOAN..OR NOT IF MOM DOESN'T CARE...
OVER + DONE + NEVER MENTIONED AGAIN!
I wouldn't sit down with my mother and pay anything. I would write a check every month to the student loan servicer myself . There is no law against it, and as long as it's a payment they don't care who it comes from .they will not question it.
Right . They surely don't care who pays 😅
The problem with this case is that the mother is living with debt liabilities and probably is struggling over all.
I wouldn't give her a cent. It's in her Mom's name. Her Mom stole from her. Her Mom created this debt.
@@kellharris2491she benefited from going to culinary school and she lived off her mother while she was going to school (room board, food, laundry, probably helped her with transportation to work & school ect). She already said she wasn’t making that much guys, so where do you think this girl was living?!! I agree that she should pay the $10,000 (she already paid $5,000, only owe total $15,000 per agreement ) what they agreed to from the start and send the money directly to the loan servicer, do not give it to mom since she was irresponsible and allowed that loan to double. This girl should not be off the hook! She didn’t fulfill her part of their agreement either. Her mother is responsible for the rest, she has poor financial management skills. But the daughter is partially responsible for her part of that debt! Mom is responsible for the $55,000, too bad! 🙄🤷🏾♀️
Yes, start paying off your tuition expense.
Excellent answer! I like the way you handled this overwhelming problem! The daughter doesn't just walk away but she finishes making payments from her part of the loan!! The rest is up to her Mom!
The mother knew she was scamming her daughter. She is using guilt .
I wonder if she’s seen the statement for 70k or is her mom lying about that too?
Sarah giving her mom money to pay the loan is like asking the elephant to pass the peanuts.
I wouldn't pay mom $10k. I would pay it directly to the loan servicer.
There was no online biling option at the time so the mother had to pay it.
The mom plans to never pay the loan and ask for money any time she needs it. High key manipulation
Totally agreed.
Ding ding ding. We have a winner Johnny
Typical single mother using her kid
Wait until mom is too old to work and announces "I have nothing saved for retirement". That will be the icing on the cake.
@Robert Perry oh yea you know that one is coming. I'm thankful I don't have to deal with this kind of thing!
I was in a similar situation. Needless to say, I make the payments directly to the lender. 👏🏾 The lender emailed my mother asking her how she was paying down the balance. 😂😂😂
You let your parent plus loan ruin yall relationship damn it must suck that why parents don't do nothing for there kids now
In your best Chris Farley voice say, “mom, remember the time when i gave you all that money for the loan, and you wasted it? That was classic”
🤔 Never depend on someone else to pay your debts. Not even family.
It's in her Moms name.
It's not her debt though.
right. Which is why mom can't expect her to pay it. It's not her debt. Not LEGALLY. A parent plus loan is a loan YOU as a parent take out and GIVE to your child. It's mom's debt. If she left it sit for 20 years and let it stack all that interest, that's on mom because she is the name on the loan.
When I was a in college, I asked my mother if I could apply for PARENT PLUS loan. Thank God she refuses. Our relationships would’ve been very different!
They should be illegal
That’s the bad thing about cash when history is needed….. untraceable
From your own admission, you still owe her ~$10K, give her that and nothing more.
I think that's exactly what Dave would have said. This whole comment section getting swooped up in the over-the-top emotions Jade and John are promoting here. Pay her what you owe her and not a penny more. What she does with it is her business.
@@amythinks Just made a similar comment. This girl admitted to entering into a verbal contract with her mother to repay 50% of the loan. She clearly reaffirmed the contract after she turned 18 my making partial repayments. There is a valid contract and the girl has the burden of proof to show she made partial payments. If there was no agreement as to partial repayments then the court would imply repayment terms.
Her mom will never get rid of that loan. She has allowed it to grow into a huge monster and will only get worse each month
Wait. When she’s on social security they will come after her for it. My MiL took out a loan in 1982. 2008 when she applied for social security they started garnishing it. It had gone up a LOT in that time because interest and penalties really rack up
@@BusArch42 yes. student loan debt is the WORST type of debt you can have behind maybe owing uncle sam. They can come after everything you own, garnish it, put a lien on your property and force the sale, take money from retirement funds, and you can never bankrupt it. It is the type of debt you should run away from!
@@jgray690 absolutely. We taught our kids this and they are petrified of student loans now. Of course we also set aside enough to pay for in state tuition for four years and supported them in school such that they all earned full ride scholarships. They all opted to live at home and save money so they will finish school with 50k in scholarship exempted money that they can use to get started in life.
So sad how greed can ruin a perfectly good relationship. He said it right. She will have to grieve the loss of her mother. I had to🥺
I would have to disown my mom if I were in that situation.
That’s exactly what I thought before even seeing your comment.
Nah thats ok,.loan under moms name, she can die with it if she wants
Tru dat
How she still agreed to pay half $5k wasn't the full amount that why i tell parents now dont help your kids with college or a parent plus loan
They will see who can disown whom fastest?
I had a aunt thats steals. I found out she pawned my Nintendo when I was 12. She's now in prison for stealing from a church. 😅🤣😂
I do not get it. The culinary school cost 30k (or likely more if one adds cost of living) and did not give her good income perspectives (or did it get better after the first year ?) what is the point of going to culinary school when she makes minimum wager afterwards.
Also: at least for a while the daughter lived with her mother after graduation. She gave her money for the loan but likely nothing for board. Mother may have invited her (because she worked minimum wage) but it can be taken into account.
Always pay the bill yourself if it's your loan.
Agree, but in this case, I think she’s clear since the loan is in her mom’s name (thank goodness)
It's not her loan though. There was no risk to the caller sending her mom the money because the loan was never in her name. Mom messed up and that's on her.
I agree! It is the mom's loan, so she should pay it!
In my family We have heped one another with money always! My parents helped me and my brother. We both paid back a long time ago! We have helped our kids by lending them money, no paper signed only a promised made! It has worked out great. They have paid every month exactly what we agreed on. Never late, never asking for more… Now the eldest one has paid everything back and in a year the younger one will be done as well!
I think you never heard of that working because you are on the Ramsey Show, people turn to you only when things go sour!
I agree people mostly call into this show when there is a problem.
Your family honors their agreements. Many families don't .
@@rogers5622 It is horrible! Who can you count on if not your own family 😔
I mean there would be no reason to call in about the family loan arrangement that’s been going great. But it’s still unwise but to each their own.
I like watching this show because it makes me feel like I am "better than" all the people who are calling in.
😂
We are better than a lot of them! Especially that lying sociopath Mom in today's call.
It is kind of like watching a train wreck sometimes.
🤣🤣🤣
You’re not! We all lack something. Me…Emotional intelligence!😂
😂 They should really use that sound bite of Jade singing for many of these folks because that's exactly what I was thinking.
Loan is in the mother's name... caller is safe and mother gets to deal with paying it back. Mother dug her hole. Mother gets to dig herself out.
The daughter's $ 10,000 or $ 15,000 needs to be paid loan directly to the lender.
I agree that if the daughter pays $ 15,000, the mom should go through Financial Peace University.
I think their payment plan conditions are necessary. However, she does owe $20k. The loan increased 2.3x and she never paid back the $10k. So her failure to pay $10k increased an extra $13k.
For sure, she didn't fully uphold her end of the deal, so she needs to go good on that. The other question I have is what the understanding on the $200 a month really was post-college. She said she was living with her mom at the time, so did mom think it was "rent" money of sorts? Regardless, mom hasn't made payments at all and is only asking about it 20 years later, which is also ridiculous. There is an argument that the 2.3x increase is the mother's failure to even address the issue of the loan for this length of time.
Her mom should have paid it instead of spending her money
@@KatieBellinoi wish they would have asked the caller what she thought the $200 per month was intended pay for...rent or loan repayment?
Imagine charging your child rent
@prismatic125 sadly some people do but her mother apologized for not paying so she knows it was wrong. It wasn't for rent but your right she shouldn't charge her.
😂😂😂😂 epic Jade singing
She should still pay more than 10k. Her 10k still accumulated interest after she stopped paying her mother. She ought to take a calculator for that 10k and see what the interest rate is and just pay off that portion for the 15-20 years where she didn't make payments.
I agree. On-line compound interest calculator will do it in a second.
Agreed. Its much more than $10k.
She stopped paying her mother because her mother stopped paying the loan. She shouldn't be responsible for the 20 years of interest when it was her mom's non-payment which caused the loan to balloon with interest.
@@megalodon1726 she's still responsible for the interest the 10k accrued regardless per their terms. If she paid her 15k in full then all that would be left would be her mother's portion. Her mother shouldn't pay the extra interest because she stopped receiving payment. Interest accrued on that 10k she still owes.
@@megalodon1726 She could have paid the $10K directly to the loan servicer, so my opinion is that she is responsible for the compounded interest.
She paid $5,000 and it was while she was living with mom. But much of this is due to mom's irresponsibility. There really should be a required finance class when taking out student loans that includes data on how much the career will pay and how much the payments will be. The daughter did not really pay her half, so I think it would be reasonable for her to help in paying the debt off, but she and mom have to sit down and figure out the how.
True story
I’m a high school drop out
My daughter came to me and asked
For help with college. I said on one condition. No student loans. She agreed. Now she has a great life and no student loans.
This is 100% the mom's fault and now she's the one who is going to pay for it.
She wont
Actually it’s both their responsibility if you count their verbal agreement. Technically daughter defaulted on her 10k (15k-5k). Add interest and daughter should owe 40% of that 70k debt (28k). Net Net it was a bad deal on both their ends 🤦♂️
@@anthonysandoval2949 the caller could have done a better job with tracking the money but i put this more on the mom because she was the adult and should have held her daughter and herself more accountable. it also would't surprise me if the caller didn't really understand the terms of the loan.
@Anthony Sandoval legally speaking that's all the mom 100% and it's not like she didn't give the mom a dime. Daughter found out she wasn't paying off the loan the Daughter gave her so it's justified that the Daughter doesn't give the mom any more money because this kind of mess happens
Her mom was dishonest! I would just start paying the company. This is financial abuse. And where’s dad, my father would yell and say nope never sign anything without me taking a loan in your name!
Well the mom has to deal with it. Stop all payments and give nothing to her this point forward. It's a parent plus loan. The mother is on the hook for it. So walk away.
0:35 after graduation she lived with her mother (free board ?) and gave her money for paying down the student loan
I disagree with Dr. John on this one. I would give NOTHING to my mother. If you feel you still owe $10,000, you should pay that ten thousand directly to the lending institution because I guarantee anything you give your mother will go in her pocket and will NEVER be applied to the balance of the loan. The title said "My mother lied about paying back my student loans" but that is not nearly as strong as it needs to be. It should have said, "My mother is a thief who took the money I gave her to pay back my student loan and kept it instead of making payments on my loan."
And darlin', you give your mother money and you find out she is not making the payments so then...... you continue giving her money. I must admit I'm a bit confused by that. She has PROVEN that she is a thief and a liar. Why would you continue giving her money, and giving her CASH at that so there is no way you can prove how much you have given her. I'm struggling to understand. Just because this thief is related to you does NOT make her less a thief! Do not EVER give this woman another cent for any reason. She cannot be trusted and her moral compass is so poor that she sees nothing wrong in stealing from her own daughter! Keep right on loving her, if you want to, but don't leave your wallet where she can get her sticky little fingers on it!
This young woman's call was over a year ago so presumably she has reached some sort of resolution with her situation but I wanted to go ahead and put in my two cents' worth for the benefit of other young people who also have a dishonest parent who are cheating them out of their student loan payments.
"Oh lawd"🤣
Jade looking like she's about to guest star on the Fresh Prince of Bel Air, and I mean that in the best, most flattering way possible
😄
She's adorable.
Your mom scammed you once and you decided to give her money again? Lol
The daughter paid HER debt, the money went elsewhere…. So daughter off the hook.
Right ! If the loan is over $70k, her mother paid nothing towards that loan.
Ask for money monthly. Hold your parents accountable... and never ever give someone money to pay your bills.
I get she feels wronged, but the caller promised to pay $15k and even from her story it sounds like she only paid $5k. So she at least owes 10k!
The daughter is just a ridiculous. She knew the mother wasn't paying the loan and is now acting surprised its gotten out of control.
Here is the fun thing. It was a parent plus loan. Daughter is not libel for ANY of it. That's what a parent plus loan is! If you take out a loan, it's yours. Mom was dumb to take it out and not pay on it for 20 years.
And I'll bet you a dime and a donut Mom doesn't have much if anything saved for retirement, and will try to guilt daughter into supporting her in her old age.
Totally agree…pay yourself. Just make sure you don’t save your payment method on the sight. After you think you’re done paying she could easily push the button to use previous payment method.
I agree that the daughter should take the rest of her share of the loan and make the payment directly to the lender, not to her mother! Her mom has no intentions of paying off this loan. She just wants her daughter to finance her lifestyle! It is a very sad and toxic relationship! I am sad for the daughter.
Parents, if you feel obligated to co-sign a loan, think twice. If you can't afford to pay for college, neither can your child. Work out a plan where you're not held 100% responsible. Your kids can go to a JC or work every other semester. Please do not go into debt.
Of course if mom took the money from her, you know since she didnt pay down the student loans, she must be in trouble elsewhere. Or she wouldnt need a 20k lump sum payment. Which surely isnt going to the student loans either.
Jade is just low-key flexing the fact that she is actually a world-class singer.
Giving a family loan is high risk . The most you can do is have on paper. The only way you can get your money back, is to have them sign a contract; and include their social security number. I lost a significant of money to my sister; she felt since she was my sister; she did not have to pay it back.
It was Jade singing, 🎵Oh, Lord 🎵for me.
Girl your MOM is on the loan, tell her to pay her bills lol
Why was she making min wage after attending culinary school?
Because it’s a brutal field
You don’t have to pay to learn a skill in todays world. Taking out a loan for school should be illegal.
What you have to pay for is evidence that you learned it that employers will accept.
The only time parents should pay for kids college should be if they can afford to. If they need to take out loans, find another way. Parents, dont sacrifice your retirement for your kids. Kids, find a way to fund college if that is your path.
$70k for makin grilled cheese and burritos
I hate how the female cohost keeps butting in to the other host. Let Dr. John talk.
My dad was perfectly honest with me when he took out my Parent Plus Loan my name on it but you paying it back he gave me the notice every month and I paid it thank God it was only 5,000 dollars
My mom took out a parent plus loan for me and I just login to the portal and pay it every month. It’s pretty simple in my eyes. My mom took it out for me but it was always going to be my responsibility to pay it. This situation is somewhat different because of the deceit…
You better saaaang Jade 😂
If you login to pay it use a prepaid card or be sure to remove your card info after you pay it.
Went to culinary school to make minimum wage. Money well spent.
She should be making alot more right? She should be a head chef right? At the very least? I don't know how she on minium wage. I'm not a chef or a cook so I don't know.
Did she say she was still on minimum wage? I thought that was just when she first graduated...
My step brother went to culinary school. It cost as much as my engineering degree. He has been struggling ever since. For poor pay
This is a Parent PLUS loan. Which means that the parent and ONLY the parent is liable for the loan. This is one of those crap loan options are fading away, but these were everywhere in the early 2000s.
Parents who forcefully require kids to go to college and avoid all other options are parents who need to face the costs of college. Otherwise give your kid other career options out there.
I would have not given her any money after the first time.
So many issues in the world I feel are from lack of parenting
My mom co-signed on my student loan so I could finish my education. I paid it off, it was fine. She cosigned on my apartment in university, I never missed my rent payments. You guys never see it work out cause that’s not who calls in to your show 😆
My grandpa co-signed on my second car loan. I made sure that it was paid on time. I’m grateful he did co-sign but still super stressful because of the kind of person he was.
And an extra added safety net I would get a debit card just for this payment. One of the one and done cards. So then that way she's not keeping her information on the computer and using it for other uses. She sure scammed her daughter big time! I feel bad for her!
If you are the daughter ask yourself in what universe you would do this to your daughter? Would you guilt her into paying a loan you chose not to pay?
I’m grateful…
I didn’t take out any loans and was very, very lucky and blessed for my school tuition to get paid for via Pell grants and scholarships.
The one time my parents asked me to take out a loan to help with some bills, they promised to pay it all off. They kept their word and I couldn’t be happier.
My heart breaks when kids get screwed over by their parents when there are empty promises.
“Money makes people act up”
“Cosigning is stupid”
Deep insights here WOW 😂😂😂 get her off the show
If it was me I wouldn't give my mom a penny at this point.
daughter owes $10K plus interest. She ALSO didn't pay per part.
100% It’s inappropriate to make the recipients of said Loan (30k for her to attend culinary school), feel as though they have zero culpability in the loan repayment. She should pay her mother back that portion absolutely but have a lawyer draft a contract for that re-payment plan, execution and sum total.
The mom ain't paying nothing!
Since 2003? How is the lender letting this go with the Mom that long? what am i missing?
Call the loan company yourself. 😂
No
Am so sorry. What a terrible experience
If she is retired and collecting SS they could actually start garnishing up to 15% her SS check.
😂 Jade that’s a big reggae 🇯🇲song 🎤 Sarah!
2003 and she didn't pay anything... fees and interest rate was racking up... student loan interest rates were 6-7% then... I know, cause I had a parent plus loan ...
"Ok. so my question is... I went to culinary school from high school..." She never asked a single question.
My new dynamic duo - Jade and Dr. John 🙂👍🏽
its on the mom, not on caller. so what's the issue...
Why should her mother pay 100% of the interest??? Bad advice.
I have payed off 5 loans in 3 months. It is so impotent to know who has the loans and just how much they are. Ask a lot of questions and pay close attention, don't just let things go for years. This is how things get out of hand and people start to fight over money.
This is painful if you can't trust family who can you trust😢
This poor lady, her mom is a total jerk
Mom runs a con on her own kid.
Mom needs to find those bootstraps and figure this out.
That’s messed up man…also jade can sing???
😂 lord have mercy on this caller 😆 wow we around the same age I feel her
- if this isn’t stealing from your kid, idk what is. She gave her mother money every single month for a specific reason, and her mother pocketed it. She forgave her mother and then her mother continued to steal from her again. Simple as that. So sad.