Should you help?
Whether you have a grandchild at university or a child who’s still repaying their loans years after they graduated, you won’t be alone if you’re worried about the impact of student borrowing on their finances.
Jemma Slingo, pension and investment specialist at Fidelity International, says: “Parents and grandparents are now asking themselves the same thing. Should they help clear student debt? And should they discourage younger family members from taking it on in the first place?”
While you might have a strong desire to help, there’s a lot to think about first.
1. Understand student loan repayments
Student loans don’t work in the same way as commercial…