Private College Student Loan

Is there a way to get Direct Loans to legally recognize my child as a debtor?

I recently got a parental plus loan for my daughter who attended college. I just lost my job. My daughter agreed to write a letter and have it notarized stating that she would like to assume all debt responsibility for her college/tuition bill. Does anyone know how we can go about getting this done? And have the total responsibility of the Parental Plus loan transferred in her name? Or is this even possible?

Public Comments

1. Contact the lender and ask them. They will be able to explain all the rules to the loan. Because it is a Parental Plus loan, you probably won't be able to transfer it, but since you are on economical hard times, they might let you defer it. Again, call the lender. They will work with you.
2. How old is she? We had our son take out his own loans instead of getting parent plus loans and he still had to have a co-signor until he was 24 years old. So if she isn't 24, they may not let her. However, contact your lender and see what they are willing to do for you.