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The Ramsey Show Highlights

My Parents Lied About My Student Loans Being Paid Off (Am I Still Responsible)

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6682 Ratings

🗓️ 17 August 2025

⏱️ 8 minutes

🧾️ Download transcript

Summary

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Transcript

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0:00.0

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0:06.0

I've been out of college for many years. I've paid off about $15,000, which was the entire loan that I was aware of.

0:16.0

And recently, my parents just informed me that they had taken out a loan to assist me going to college for about $13,000.

0:25.6

And they are now asking for me to be responsible of it.

0:32.6

So it's a parent plus loan.

0:35.6

Correct.

0:36.5

In their name.

0:37.9

Okay.

0:38.3

When they took it out, was there any discussion back in the day when you were in college?

0:42.6

No, I literally, I didn't know it existed.

0:46.8

You know, I thought, because they were very honest with me, you know, about college.

0:52.7

You know, I got FASA assistance. I got a lot of grants.

0:58.1

I only went to a four-year school for about two years. I went to a county college the first two years.

1:05.9

So I really thought that that was sort of it. I didn't really realize that they had taken out.

1:13.3

So they took out a loan and didn't tell you anything about it at all,

1:18.7

and yet they want you to be responsible for it?

1:22.4

Yeah, they're asking for responsibility or at least help or assistance with it yeah how many years ago

1:29.3

was this i i graduated about nine years ago so for a decade they've they've been making just

1:38.1

minimum payments on it well there's so on top of the 13 000 there, there's $4,000 accrued in interest.

1:47.5

So it's totaling out to around 17.

1:50.6

So they took out a loan and they didn't pay on it for a decade.

1:55.8

Well, there was a good portion of time with COVID forgiveness, I believe, that had disrupted it. Sure, but the balance has grown.

...

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