Parents who cosign on college student loans are financially responsible for the entire loan in the case of default.
Parents who cosign on college student loans are financially responsible for the entire loan in the case of default.

Life Series VIII: Don’t Co-Sign for a Student Loan Until You’ve Read the Fine Print

With Claire’s renters insurance and car situation squared away as she prepared for her junior year of college, Harry and Sally felt confident that their daughter was ready to go. So they were somewhat blindsided when Claire asked a blockbuster question: Would they co-sign her student loan of $50,000?

Parents would do well to review their auto insurance policies before they let their children take their cars for use at college.
Parents would do well to review their auto insurance policies before they let their children take their cars for use at college.

Life Series VII: College Kids and Cars at School

Harry and Sally thought they had been prudent about saving for Claire’s college education, and they paid for her first two years to limit her debt. Claire took out student loans and used her own savings from her summer jobs for the remaining two years.

But Harry and Sally hadn’t anticipated all the additional expenses that Claire was incurring now that she was starting her junior year and would be living off campus.

College-bound students should sign a Medical POA to cover themselves for health care emergencies.
College-bound students should sign a Medical POA to cover themselves for health care emergencies.

Life Series VI: Parents Should Have a Medical POA for College-Bound Kids

Claire had always been a go-getter when it came her studies in high school, so it wasn’t a surprise to her parents Harry and Sally when she announced plans to attend college. On the contrary, Sally and Harry would have been disappointed if Claire had passed up the opportunity to make the most of her academic talents.

But while they had saved for her college education, Harry and Sally hadn’t banked on all the incidentals that come with supporting an 18-year-old child and legal adult who needed to move several hours away from her hometown.

While Michigan is a no-fault divorce state, misconduct may be considered when it comes to property and child custody issues.
While Michigan is a no-fault divorce state, misconduct may be considered when it comes to property and child custody issues.

Michigan is No Fault for Divorce, But Misconduct May Impact Custody

During happy hour with her friends, Amber mentioned that her child’s father, Dave, had not been spending much time lately with their 5-year-old daughter, Abigail. Although Amber and Dave were never married, they had been able to co-parent Abigail since their relationship ended over two years ago. In fact, Amber and Dave had never been to court and had no formal agreement regarding custody, parenting time, and support.

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