Nephew Needs $ For Grad school (loans, gated, education)

[Mstrlucky74]

Me and my nephew are very close. He is currently in grad school at Hofstra. His parents paid for most of his undergrad but now he is taking out loans for grad school. He has asked me to borrow $2k to help ease his burden of loans. Unfort I/we currently have our own debt we are trying to pay down. I mean I feel obligated and want to help him but also feel that's his responsibility. I mean if he was in trouble or in a real bad spot I would give it to him in a second. I actually did that for my niece about a year ago when she HAD to get some money together for something. We all pitched in.

Not sure how to explain this to him or what to do. I'll probably give him $1k although I need that myself..lol

Thanks

[ChalkItUp]

How about just being honest and tell him you cannot afford to do it at this time. If he gets angry or upset and ceases talking to you then you've saved money because he wasn't paying you back anyway.

[Spanky25]

Originally Posted by Mstrlucky74

Me and my nephew are very close. He is currently in grad school at Hofstra. His parents paid for most of his undergrad but now he is taking out loans for grad school. He has asked me to borrow $2k to help ease his burden of loans. Unfort I/we currently have our own debt we are trying to pay down. I mean I feel obligated and want to help him but also feel that's his responsibility. I mean if he was in trouble or in a real bad spot I would give it to him in a second. I actually did that for my niece about a year ago when she HAD to get some money together for something. We all pitched in.

Not sure how to explain this to him or what to do. I'll probably give him $1k although I need that myself..lol

Thanks

If his parents paid for most of it, I’m sure another 2k is nothing to them.
What’s wrong with him getting a PT or FT job? A taste of the real world.
The 4 letter bad word: W-O-R-K

[hotkarl]

J-O-B

Another 2k added to a loan is peanuts.
Damn kids need to stop with the handouts and expecting to be coddled.

[twingles]

Originally Posted by ChalkItUp

How about just being honest and tell him you cannot afford to do it at this time. If he gets angry or upset and ceases talking to you then you've saved money because he wasn't paying you back anyway.

Yeah I don't get why you just can't say "sorry, don't have it". Giving away $1000 when you have debt is just plain dumb.

I will never ever understand why people can't just come right out with the truth. Frankly if his parents paid for a lot of his undergrad he is well ahead of the game. If he wants to "ease his burden of loans" he can get a job.

[kokonutty]

Karl has hit the nail on the head. Has this guy ever worked? Part of one's life education is learning how to be responsible for oneself.

[OyCrumbler]

Give him a gig to do stuff for 2k?

[manekeniko]

Expect that a $1K "loan" will be a gift and you'll never see it again. In my own experience, no relatives stepped up to loan or gift me money for education, and this includes my parents.

He could learn how to hustle by seeking out online gigs for himself or merchandising opportunities. A job would be okay, too, but I think that finding moneymaking opportunities are more educational. Entrepreneurs are made, not born.

[Jdawg8181]

I didn't pick a major that required grad school for this exact reason.


Tell him to get a job. It's nice you want to help, but it's not your obligation or responsibility.

[markjames68]

GRAD school. Most kids if they don’t have the money work at least PT to pay for it.

GRAD school also means an adult. As in stand on his own 2 feet.