Is it bad that I'm refusing to take out a student loan for my parents to finish renovating the house?

I'm i selfish for doing that? Parents are struggling to pay bills are constantly taking out loans and we are not that financially stable

Best Answer:

Rodrigo: No it isn't bad to refuse to do that. To take one out for something other than your education is fraud.

Hopefully you're bright enough to realize that you don't want to follow in the footsteps of your parents when it comes to managing money. Since they have been less than ideal role models in that area, I suggest that you buy yourself a book by Dave Ramsey. He gives good, sound financial advice so that when you have a child your age, you won't be in the same financial boat your parents are in and have to ask your kid to commit fraud so that you can renovate a house without having the funds to do so. Your parents have no business renovating a house when they don't have the cash to do so.

I hope that you NEVER feel obligated to help your parents out financially because they don't know how to manage money appropriately by living within, or under, their means instead of over them. If they find themselves in financial straits they have no one to blame but themselves – and they should never look to their children to bail them out of any messes they themselves created.

Other answer:

Rodrigo:
no it isn't bad to refuse to do that… to take one out for something other than your education is fraud…

hopefully you're bright enough to realize that you don't want to follow in the footsteps of your parents when it comes to managing money… since they have been less than ideal role models in that area, i suggest that you buy yourself a book by dave ramsey… he gives good, sound financial advice so that when you have a child your age, you will definitely not be in the same financial boat your parents are in and have to ask your kid to commit fraud so that you can renovate a house without having the funds to do so… your parents have no business renovating a house when they don't have the cash to do so…

i hope that you never feel obligated to help your parents out financially 'cause they don't know how to manage money appropriately by living within, or under, their means instead of over them… if they find themselves in financial straits they have no one to blame but themselves – and they should never look to their children to bail them out of any messes they themselves created…

Eva:
Why would you risk your financial future for people that have already proven they can't manage their finances? You'll be on the hook for the loan and will get nothing for it. It will also inhibit your ability to get a loan for anything you might need.
Barkley:
The purpose of a student loan is for Education. Period. Do not even consider committing fraud, an illegal act, if you care about your future.
Your parents financial irresponsibility is not your burden to carry.
Bill:
Student loans are for school, not house renovations.
tro:
absolutely not
first of all the student loans are at a reduced rate of interest and that is so that the student is able to pursue their education, not use the money for anything other than education
your parents are asking you to commit fraud
Charlie:
am brown from usa and i want to say a very big thanks to mary pery for helping me get a loan and i shall be forever grateful to her and i shall like you all who is in need with a loan to contact her via email: marryperyloanhome@gmail…com
Linda R:
Your parents are adults and need to figure this out on their own. Stand your ground and do NOT take out any loans to help them.
esachica:
They fed you everyday since you were born and put a roof on your head and made sure you got all of lifes basics and they ask you for ONE favour to make the family home better and you refuse?

You are one ungrateful selfish mofo. I hope my kids never turn out like you.

My sister is like you only cares about herself, take take take never give.

You are worse than the dog sh“ on the bottom of my shoes.

D J:
Student loans are for paying to further your education, not support your parents financially unsupported lifestyle.

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