Dear Liz: I have a 24-year-old son who has been trying to get through college for nearly seven years. I have helped him with direct gifts and by co-signing loans, but I am pretty tapped out. He tells me he has one year left but has no way to pay for it. He is disorganized and not particularly motivated, although he does talk about things he’s learning and I think is at least somewhat committed to school (he maintains about a B to C average at the state school he attends). He has moved back home to save money and is working full time but had gone many months without a job in the last year. He accumulated credit card debt and generally is a financial disaster.

Do I take out a second mortgage or co-sign another loan, which would be a stretch for me, or do I watch him drop out of school, which seems a really harsh life lesson? I know he might be able to take a year off and then go back, but let’s be honest — if he takes a break, it becomes less likely that he’ll ever return.

Answer: You sound like you’re more than tapped out. You already may be overextended because those private education loans you co-signed are just as much your responsibility as his — and he doesn’t sound like a terrific credit risk, at least at this point. Doubling down by borrowing more money doesn’t seem like the wisest choice for either of you.

Taking a break from school could increase the chances he won’t get his degree, but it also could give him time to get his financial life in better shape and perhaps tackle some of the issues impeding his progress. His disorganization and slow pace through school could point to an underlying problem such as a learning disability or attention-deficit/hyperactivity disorder (ADHD). His college may have a counseling center that could connect him with resources to help, or you could ask your family physician for a referral.

Update to question about survivor spousal benefits

Dear Liz: You recently answered a question pertaining to divorced spousal Social Security benefits. Social Security told me years ago that I had to wait till my former husband died before receiving a part of his benefits. We divorced after a long-term marriage, and I remarried after age 60. Is this still true for remarried former spouses? My ex does collect Social Security, and I collect my small benefit (both of us started at full retirement age).

Answer: The information you received was correct. You can’t get spousal benefits from your ex’s work record if you’re married to someone else. You can, however, get survivor benefits if your ex dies, as long as you remarried after you turned 60.

Liz Weston, certified financial planner, is a personal finance columnist for NerdWallet. Questions may be sent to her at 3940 Laurel Canyon, No. 238, Studio City, CA 91604, or by using the “Contact” form at asklizweston.com. Distributed by No More Red Inc.