Student loans affect the whole family — not just students

The New York Post reports:

“What you’re seeing now in the student-loan area is not only the debtor, but the family of the debtor,” said Manhattan bankruptcy lawyer Dave Shaev. “Mom and Dad are usually the co-signers, and sometimes Grandma or Grandpa are having to dive into retirement funds and home equities to try to bail out a daughter or son with student loans, because the jobs they are getting do not allow them to keep up on the payments.”

Just a reminder.