Dear Amy: Would it be wrong to ask my mother to use her inheritance from her father (my grandfather) to pay off some of my student loans?
I graduated nine years ago into a terrible job market and I am just now breaking out into a decent, good-paying career.
However, I have barely made a dent on my student loans from being unemployed and underemployed for many years. I am also hard-of-hearing and this contributed to my employment search struggles.
My mom bragged about spending $11,000 on new windows for the house. It was a perfectly valid purchase, but I could not help feeling resentful hearing about it. That amount would have paid off a third of my loans!
I feel shameful seeing my peers with their debts paid off, while I continue to struggle.
What is the right thing to do here?
— Student loan woes
Dear Loan Woes:
Before going to your mother, you should educate yourself and explore any and every opportunity to renegotiate your loan terms. Check studentaid.ed.gov for information on consolidating and repaying federal loans. Studentloanhero.com is a commercial site offering lots of information on how to organize and consolidate, as well as tips to perhaps lower your payments.
