Is giving your child a personal loan worth the risk?

Return To Article
Add a comment
  • Caprice PROVIDENCE, UT
    Feb. 17, 2012 10:51 p.m.

    I've observed good and not-so-good scenarios with parents giving children personal loans. I believe most parents want to help their children succeed, but sometimes saving them from their problems only enables them and creates a bigger problems. However, I can't say that I would be strong enough to say "no" if a child of mine needed a personal loan. It just isn't in me, even if I knew it was wrong. I'd still have to try and help.

  • Millie Bess ,
    Feb. 17, 2012 5:09 p.m.

    Most parents are faced with children coming to them for personal loans, and
    the suggestions given in this article are great suggestions. Not every family
    is in a position to lend their children money, but if the children are responsible
    and pay it back, the chances of getting help in the future are more likely.