My mom took out a parent plus loan for my last year of college 10 years ago, after my financial aid was cut so the school could offer better financial aid to the incoming freshmen. It was for $4000, by the time I paid it off I had paid $6600. Our deal was she would take out the loan and I would pay it off. I spent 5 years paying off a loan in her name and barely paying the loans in my name. My car broke down in that time period and I had to make her loan payment instead of fixing the car and then I had to beg Co workers to drive out of their way to carpool me to and from work for a month (two paychecks) before I had enough to fix my car and pay the next month's student loan bill. In the meantime, because I was only making minimum payments on my own loans, my $9800 private loan ballooned up to $17,000. I will never pay it off, it's been 10 years and I owe $12000 still. And it's a private loan so it's not elelegible for forgiveness (if that even happens).

But at least I've got this sweet art degree and a job at a liquor store :)