Grieving parents hit with $200,000 in student education loans

Grieving parents hit with $200,000 in student education loans

Whenever their 27-year old child Lisa died abruptly of liver failure 5 years ago, Steve Mason had been as devastated as any daddy will be.

He and their wife Darnelle immediately took in Lisa’s three kids — ages 4, 7 and 9 at that time — also though they knew it will be a massive struggle to support them. Steve earns lower than $75,000 each year being a pastor, while Darnelle earns also less being a manager during the church that is same.

Then a learning student loan bills began coming.

Mason had co-signed regarding the $100,000 in private figuratively speaking that their child took away for nursing college, therefore the lenders desired their cash.

Struggling to carry on with because of the monthly premiums on top of all the other mounting costs, the $100,000 balance ballooned into $200,000 as a consequence of belated penalties and interest levels of since high as 12%. Continue reading