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Share All sharing options for: Student loans trap parents, too

Share All sharing options for: Student loans trap parents, too

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Jennifer DePaul’s parents took out a life insurance on their 27-year-old daughter because they fear being stuck with her student loan payments. Courtesy of Jennifer DePaul

WASHINGTON -Signing a death-benefit policy was the last thing Jennifer DePaul wanted to do on Christmas morning. But there it was. When she went home to New Hampshire for the holidays, her parents had the life insurance papers ready. DePaul’s parents had co-signed on the student loans that paid for her undergrad schooling and master’s degree in international journalism at Cardiff University in Wales. They felt the need to protect themselves if the worst – her death – should happen.

Student loans trap parents, too

“It was pretty awful, pretty dark, I guess,” said DePaul, a tax reporter for the Bond Buyer’s Washington, D.C., bureau. “A really eerie thought to think about.”