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Carrick on money: Parents stuck in a student debt sinkhole

Sinkhole danger

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The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Parents stuck in the student debt sinkhole
We've heard a lot about young adults struggling to repay their student loans. Now, meet the parents who borrowed money to help their kids afford university and are now struggling to repay what they owe because of financial setbacks caused by job loss, health problems and such. In fact, the fastest growing age group for college debt in the United States is 60-plus.

When 0 per cent is no deal
Some solid digging by this blogger uncovers an example of how a 0-per-cent financing deal on a car comes at a sizeable cost - a higher purchase price.

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Co-signing loans is bad business
Why you should probably say no if asked to co-sign a loan for someone.

In this recent column, I took at look at the trouble seniors can get into if they co-sign loans for their kids or grandchildren

Fresh ideas for cutting your insurance bill
A list of 101 ways to save on all kinds of insurance. I'm not big on these lists normally because they tend to say the same things over and over. However, there are a few points on this list that I've never seen before. Example: Students with good grades may qualify for a discount on car insurance.

More money
Join the 17,000+ people who subscribe to my Facebook personal finance community for talk about investing, retirement, real estate, banking and other financial matters. I'm also on Twitter .

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About the Author
Personal Finance Columnist

Rob Carrick has been writing about personal finance, business and economics for close to 20 years. He joined The Globe and Mail in late 1996 as an investment reporter and has been personal finance columnist since November 1998. Rob's personal finance columns appear in The Globe on Tuesday and Thursday, and his Portfolio Strategy column for investors appears on Saturday. More

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