I was talking to an American coworker of mine when the subject of debt came up. He's in his early 30s and still paying off his student loans. He claims to have graduated with nearly $100,000 in student loan debts. An astronomical figure to be sure, but I'm well aware that higher education in America is extremely expensive so frankly I wasn't all that surprised. What DID shock me, though, was that he said he has an additional ~$20,000 of debt in what he called "personal loans" from his family members, specifically, his parents. Is that actually a thing that families in America do - give money to their children and expect them to pay it back? Do they also charge them interest like a traditional loan? It's a crazy concept to me, if I called my mother or father right now and asked them for $20,000 they would never so much as even suggest I pay them back, ever. Americans please respond, is this common in your country?
>>524382916if your son came up to you and said he believes he's a girl, would you trust him to manage five figures of money?
>>524382916Paying back parents is far more common with boomers who might even want money for when you were a kid. Some gen X picked up this habit because it was the norm at home.The other category is poor parents who can't float a thousand dollars and genuinely need it back asap. They'll risk it for their kids
>>524382916It’s so weird when brown people compare the US to Europe instead of the shitholes they are actually from
>>524382916Yeah boomers don't give gifts, it's all contingent on repayment. But you just never pay them back
