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I am wanting to do a step parent adoption- father is anonymous- sperm doner. It seemed like it would be an easy process... then I saw that you have to declare your debts in my state for the home study. Here's the thing... we have made some very poor choices and together owe almost 300,000 in student loans... they are all being deffered right now because we are both finishing school and then we will be able to do the income based repayment. We make, together, around 80,000 per year right now. of course the hope is that it will be higher soon and we can really get working on our gigantic mistake. No other debts besides cheap cars that are nearly paid off. We live in a nice area, great school system.
My question is, how much of an issue is this going to be? Will this mistake prevent me from being able to pass the home study? It is an obscene and embarrassing amount of student debt to be sure, but would be the only thing that could hold us back from doing this that I'm aware of.
Edited to add: we have some money in the bank for emergencies, but no other assesets to speak of. So, the debt to income ratio is really bad.
Last update on August 29, 12:01 am by Jenny Smith.