Minimum age for federal student loans is 16. Federal loans don't require a co-signer.
Not possible as the applicant is a minor.
the borrower
If you're creditworthy, sure!
You may want to consider a federal student loan as these types do not require a cosigner.
The cosigner of a private student loan can and will be hindered if late payments occur. Another downside to said cosigner, that is if they are in school, just like most everything else they best have the money to cover these loans in some type of colateral.
It is very possible to get a student loan with no cosigner and only 1 year of employment. The best solution would be to apply for a federal stafford loan.
Not possible as the applicant is a minor.
a secured loan
The cosigner I believe but check with the loan issuers it's in the details.
AnswerThe short answer is no, you can never change cosigner on a private student loan. If they die, however, it is transferred to you.
the borrower
If you're creditworthy, sure!
You may want to consider a federal student loan as these types do not require a cosigner.
i was able to get an auto loan with the help of a cosigner and im under 18
NO you have s secondary obligation for the note, not the money or how it was or was not used.
Most private student loans applicants are required to have a cosigner, especially undergraduates or students who don'tt have a steady income or credit history. The cosigner is required to sign the loan document, but the student is the primary borrower. By signing, the cosigner agrees to be fully responsible for repaying the loan if the student does not fulfill his or her obligations.
The parent borrower of a PLUS loan sometimes thinks they are the cosigner, when they are actually the non-student borrower. This misconception would not exist if they had actually read the loan agreement, and they are still severally liable for the keeping their part of the contract.Being the student or not being the student does not necessarily determine whether or not you're a "cosigner" or a borrower, you need to read and understand what you're signing.