Parents of child's classmate asked for a $14K loan
So my child goes to an expensive private school in large part because our family started a successful business which allows us to afford tuition and also donate to annual fundraisers. We received a lot of recognition at the last annual fundraiser that took place one month ago.
Yesterday I received a text message from a parent of one of my kid's classmates. We are acquaintances. I used to see her at school events and we'd chat a little, but definitely not what I would consider to be a good friend. Back to the text. She said that she was embarrassed to ask, but that her husband was waiting for his small business loan to process and they were in desperate need of a loan to cover expenses in the meantime. She asked if I knew of any "angel investors" that could help them out. I texted her back with a list of contacts we have that help with these loans and situations. I also suggested a few credit companies that can offer quick money with low interest. She thanked me and I thought that was that. Weird, but okay.
She messages me again today and says that the person handling their loan doesn't want their credit "to take a hit" so that avenue is out of the question. She said that they owe the private school $14K in tuition, and if it is not paid by this Friday, her kids will not be able to take their finals (they have three kids enrolled in this school). She goes on to ask if we know anyone who would loan them $14K. I respond that I'm sorry she is in this stressful situation, but my husband and I have established a rule of not giving personal loans, even to family members. I suggested asking if the school would work with them because I've heard that they will offer financial assistance under circumstances. She immediately responded that she wasn't meaning to ask me for a loan personally, but if we knew anyone. I don't buy that one bit.
Long story long, I guess I'm here for reassurance that I handled this situation appropriately and that this is extremely out of the ordinary to ask an acquaintance for a loan like that. My spider sense is also telling me that I'm not getting the whole story about what is going on with that family. I have been in similar situations with problem gamblers and addicts in my family, and this exchange felt very familiar.