How to Deal With Student Loan Debt as You Age
The number of older Americans with student loan debt ? either theirs or someone else?s -- is growing. Sadly, learning how...
Read moreThis is going to become more of an issue as higher education becomes increasingly expensive and more parents and even grandparents have to step in to help their children and grandchildren pursue undergraduate and graduate degrees. Fortunately, this will have no effect on parents' eligibility for Medicaid. In fact, paying down such a loan should not be deemed to be a transfer of assets for Medicaid purposes since it would constitute the payment of a legal obligation, not a gift to the child or grandchild. The gift occurred when the loan was taken out and the parent or grandparent assumed the obligation.
For more information on Medicaid's asset transfer rules, click here.
Local Elder Law Attorneys in Your City
The number of older Americans with student loan debt ? either theirs or someone else?s -- is growing. Sadly, learning how...
Read more
For many Medicaid applicants, individual retirement accounts (IRAs) are one of their biggest assets.
Read moreYour mom needs to move to an assisted living facility but you're having difficulty selling her house . . ....
Read moreMedicaid Rules, etc