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SD asking for loan

DeenieV's picture

I've written on here before about this SD, who is my worst nightmare. She now has gone back to college to become a PT and was accepted into PT school. BTW-she is now almost 36 years old. Her mom and dad paid for a four year bachelor's degree over 12 years ago. She is now reaching out to her parents to loan her money so she doesn't have to have so many student loans and the high interest attached to those. The other part of her story-she is dating a man 25 years older than her who has now bought her a house close to PT school campus so she doesn't have to worry about paying rent. He gave her a diamond "promise ring"-not an engagement ring. I feel it takes a lot of audacity to ask us for money. She will be making a great wage in three years and her sweetie seems financially sound. I think she is using him, IMHO. She is a master manipulator and now has my hubby wondering what he should do. The mom did lend her $20,000/3 years-no interest charges. She cannot start paying until she completes school-three years from now. This is free money and she has no worries if we all loan to her. Initially she asked us for $37,000.00/3 years and I said absolutely NO. Why do kids today think they should have everything so easy? I told my hubby-90% of students WISH they had the opportunity she had-fully paid 4 year college tuition. She is the one who made this choice to go back to school. She had to know how much this would cost. And now I feel we are being used because "we can afford it". I told my hubby-match what her mother is giving and divide in half because I do not want to give her a dime. (If you have ever read about my relationship with her, you will understand why I'm taking this stance.) After thinking on it another day, I really do not want to give her ANY money. She treated her dad like crap when he stood up to her before; she has treated me horribly, has never apologized for the things she said about me, and I have no relationship with her, which has suited me fine. NOW she is back in the picture, causing angst. I also want to do the right thing, even if it means swallowing the anger I am feeling. 

I just don't know what to do. We can afford to borrow her the money-but it's the audicity of her expecting it. Thoughts? Advice? Much appreciated. 

Newimprvmodel's picture

That's a huge amount of money and more importantly you have no relationship with her. 

CLove's picture

You are NOT obligated in ANY way. The issue is how she is treating you, and has treated you in the past, not if you can afford it. She had her chance to get the education and now it all should be on her and her partner to figure things out. 

No is a complete sentence. Period. Dot.

If your husband decides to against your decision, put equal amounts into a separate account just for YOU.

Stepdrama2020's picture

Whether you can afford it or not is not the issue. The issue is that SD is rude and you dont have a relationship with her.

She is an adult who chose later in life to upgrade her skills, good for her, but its not your responsibility at this point. Plus throw in you are estranged from her, thats a big NFW. Your DH should understand this.

She can get her new rich daddio to pay since she is such a damsel in distress?   BARF

la_dulce_vida's picture

There are grants out there that she can apply for - say NO! You don't have to LEND her any money.

36 years old?!! Well beyond the age where she should be hitting up her parents for tuition.

 

Rumplestiltskin's picture

I read through your first few posts. To quote another user, "Pass the sick bucket!" Just say no. 

notarelative's picture

Loan? What are the chances you will get the money back? Many times loans to children are never repaid. Never lend money unless you will be fine financially if you don't get it back. Without a signed contract spelling out terms and repayment, he has no legal recourse to get his money back.

Before DH 'lends' her money, he should look at a few things. Without a contract the money could be considered a gift. There are yearly limits on dollar gifts. Go over that amount and one has to file against your lifetime exclusion.

No interest loans can have tax consequences. The  IRS assumes an interest percent and imputes income to the parent on no interest loans.  

DH needs to remember that his daughter can borrow for school, but he can't borrow to fund his retirement.

AgedOut's picture

ask your husband if he would pay someone to treat him like crap. When he says "hell no" ask him why he expects you to be okay w/ giving her $$ after the way she treats you both. 

ndc's picture

If she has been rude to you and treated her father poorly, she is not deserving of a loan (which would probably end up being a gift anyway), and the answer should be no - especially if you have joint finances so that this is your money too.  If her dad has separate finances, a fully funded retirement and can pay the bills if he never sees that money again, then maybe he could do it from his own funds.  However, I would tell him that I consider him giving her money hurtful after the way she's treated you.

PTs make good money.  She can take loans and pay them back from her future earnings.  Your husband, OTOH, is probably retired or close to it if she's 38, so he doesn't have all those future earnings.  It sounds like you are well set for retirement, but things can change.  I'd stick with no.  Of course, your husband needs to be prepared for his daughter to treat him very poorly again, because I'm sure that's what she'll do if he turns her down for this "loan."  I just hope you don't get blamed.

BobbyDazzler's picture

And not feel a bit bad about it. She's an adult, making an adult choice and will have to handle the loans herself. No, just NO! She does have a lot of nerve asking for yet ANOTHER assist from parents after they paid her way the first time around. I know a situation like this would really grind my gears if either of my SS asked for a loan. I don't mind helping any of the kids out when they truly need help but expecting $30k or even half that amount is too much. Keep us posted and good luck!

1st3rd5thWEInHell's picture

The truth is your husband wants to give the money badly but he probably is afraid to do what he truly wants and upset you

 

Look at the many posts of disney dads who act depressed when the wives put the foot down in overspending for steps...All of a sudden, they become depressed and sad....You become the evil force stopping the poor innocent children from getting the help they so desperately need!!

He will do wtv he wants to do when it comes to his "helpless" children....even if he has to make you mad

Winterglow's picture

If she's nearly 36, your DH must be coming close to retirement, right? He doesn't have the spare money available to give to his daughter (give because she won't repay it, will she?). He needs it all for his retirement. She'll just need to get a loan or find a grant or whatever. He and you don't have the means of funding a change in career.

DeenieV's picture

Thank you to all who replied. I begrudgingly told my hubby to lend her the same amount of money as her mom, but only his half of the $20,000 (what her mom is lending=$10,000/3 yrs) I asked him what percentage rate he was going to charge, so he texted SD and asked what percentage was her mother charging for the $20,000 she was lending and also, what the SD would be a fair percentage. Her reply? She isn't paying any interest on the $20,000 and told her dad that she thought 2% would be fair. I looked at him and said, guess what-I changed my mind. Now I say NO to any being borrowed to her after that insulting offer. I then proceeded to tell him she is the master manipulator. We have been down this road so many times before and he still falls for her crap. After the last debacle, I had told him I AM DONE WITH HER. I do not want to hear about or see her ever again. He could continue to have his relationship with her, but leave me out of it. So that's what we've been doing for the past two years and its been great! He said he had a small amount of hope that her and I would get along some day. That's when I told him: never, ever, never will I get along with her and if you ask her the same question, you will get the same answer. You need to stop living in your fantasy world that we will be one big happy family. From the look on his face, I think it finally hit home. I am hoping this ends any future drama with this woman. When he tells her no, it will probably be WW3...And I told him-put it all on me because I don't care what she thinks and I am the one saying no. We will see. She has her sugar daddy right now-I bet she spits him out after getting all she can from him. But I want to tell all of you thank you because I doubted myself, wanted to take the emotion out of the decision, and do the right thing, no matter how distasteful it would be. The self entitlement of so many adult children is mind boggling. And the audacity of this woman to ask her parents for "help" at her age...outrageous. 

 

 

 

 

 

 

 

 

 

 

 

 

Rumplestiltskin's picture

He may be all sad that the 2 of you aren't BFFs, but it's his fault for allowing the behaviors that led to it. He raises a daughter with revolting behavior then is sad you don't think the sun shines out of her (frequently exposed) a-hole. I've been there, too. Tough sh!t for him. 

ndc's picture

If her purpose in asking her parents for loans was to avoid the high interest rate of other loans (Grad Plus loans are around 7.5%), I wouldn't have been surprised or insulted that she suggested 2%. That's consistent with her stated goal. I still wouldn't want to make her the loan, though.  Is her mom lending her $20k per year for 3 years (i.e., $60k) or $20k total, due in 3 years?

Missingme's picture

He'll end up leaving you because you're forcing his hand. Not that I disagree with your stand on the money, because I do agree 100% with you. I haven't gone back to read your prior posts, but I'm thinking you have a good job with retirement coming or at least a lot of money/inheritance to be out on your own. 

Newimprvmodel's picture

For him still giving her the money. That's an old one.  They ask our opinion and then do what they want anyway. 

Notthedoormat's picture

After being disrespectful and rude, hell no. 

I'm sorry, but after you treat someone horribly, don't expect them to be thrilled to give you money,  whether a gift or a loan.

My DH has made comparably smaller loans to a few family members...$500 to a sister in pretty severe need, and a couple hundred to a brother...  His sister had made some payments to pay it back and we've told her not to worry about it because she does her best to make it, but the brother works sometimes,  sometimes not and and has made no effort to repay...but that also means he won't be asking for more money.  But this one and the way she's behaved...absolutely not!

TrueNorth77's picture

I must come from very different stock, because:

1. I was never in a position for my parents to pay for my schooling. It wasn't even a thought in my head. 

2. Not only that, they would never have had money to borrow me. 

3. If they had paid for my 4yr schooling- anything beyond that is absolutely not expected or even should be given, IMO. She is 37!! It just causes issues and she can still get a student loan. She will be just fine. 

I don't think he should do it. He did way more than his part already, IMO. 

Russell1981's picture

She is on the business end of 30 and still asking for money?

Wow...

CLove's picture

And I was just complaining about SD Power Sulk using my netflix account at her mothers beachside apartment...!

Good on you for saying NO.

Rags's picture

covered 4 years of university costs.  He finished in 3.5 years, I finished in 11 years.

Mom and dad covered by first two years and last two years. I paid for the middle 7.  After I had wayyyyyyy too much fun my first two years, I stated a company, ran it for 6 years, sold my share to my partners, and used that to finish part of the rest of my engineering degree. I was in class every semester, at least one class, for 11 years.

My baby bro and I graduated together from engineering school with our BSEE.  He still gives me crap for graduating a minute before I did. I remind him he graduated 11 years and one minute before I did.

We were on our own for grad school.  After our undergrad, we both went to work for hte same company.  The company covered our Master's degrees though in a tuition reimbursement program.  

Many of our friends and coworkers have covered undergrad degrees but hold their kids to paying for their own grad school.

If I were  your SO my answer to your SD would be... "You are welcome for your gratitude regarding me having paid for your undergrad.You are an adult. Grad school is on you. Figure it out."

Thumper's picture

Nope. Nope NOPE.

Wow she has guts.

 

 

 

 

Rumplestiltskin's picture

This is the adult daughter who got out of the water at the beach, laid on top of her dad, and said "you're my towel daddy!", and then pulled her pants down, turned around, bent over, and put her bare anus in her daddy's face. We aren't dealing with a normal person here. 

CLove's picture

https://www.steptalk.org/forum/parenting/adult-stepchildren/cannot-stand...

 She ran out of the ocean and literally laid on top of him and joked that he was her towel. (this was in front of friends and other family members) I was in total shock. On the same trip, she came over to where he was laying on his stomach in a lounger by the pool, bent down with her butt in his face, and said, "hey dad-look!" When he put his head up, she pulled her bikini bottom down and mooned him within 3 inches of his face. Then ran to the pool and jumped in laughing.

And not only that but she went on to get married, and walked out on husband, AND shacked up with Affair partner.

So, OP, is sugar daddy the one she walked out on her husband for? Catch us up!!

Oh, and glad your DH is not putting up with her shenanigans any longer. EWE. Shes horrid.

DeenieV's picture

Well-guess what?! He ended up sending her a reply that told her "no"! Of  course he was very polite and never mentioned me, but made points that he had already paid for a four year degree; she is capable of getting loans; and when she gets out and starts her career, she will be making plenty of money to pay off the loans! EXACTLY what I told him, so he listened. Here's the part that makes me smile-I told him to lend her $10,000 (his share of the $20,000 that equals what her mom lended); that it was only fair for him because she is his daughter and it would be his half, not mine. He still made the decision NOT to lend her anything. Progress!! Hallelujah! Of course, after sending the email, he has not heard one peep from her. Either she hasn't read it (two days ago was sent) or she's royally P-d off and will use the silent treatment on him ONCE AGAIN. Truly, I think he is finally accepting the fact that his daughter is not a good person and the master manipulator. (crossing my fingers) Life is so much easier without her drama. I appreciate ALL of your replies and support. It helped me through all this angst and anger. Hugs to you all...

Harry's picture

You will never see that money.  She will never pay back that loan.   I would take bets on how many payments she will ever make.  When ever I loan my kids money, I look at it as gone.  As never to see it again.   Paid $4,000 for a new boiler. I was repaid $400.  Lucky to get the 400.   BUT I understood it was a gift , most likely never to get it back 

Shieldmaiden's picture

If she wants money, she can work for it like you did. Tell her your lawn needs mowing, your yard needs some cleanup, and then inspect her work and pay her for each job she does for you. If she does a crap job or doesn't finish the job, she doesn't get paid. 

I have a feeling she will want to forgo the money from you if she actually has to show up and work for it.