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Can a cosigner of a student loan be removed and replaced by another person?
Wiki User
∙ 16y ago
a co-signer can not be simply "substituted" . A new loan must be structered with the primary and the new co-signer, then the first loan would be paid off.
Wiki User
∙ 16y ago
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Can the cosigner of a student loan be removed from the loan if the student did not use the loan for its intended purpose And the student did not finish college and is not paying the loans?
NO you have s secondary obligation for the note, not the money or how it was or was not used.
Is the cosigner of a private student loan hindered from getting other loans?
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.
What do you need to qualify for student loans without cosigner?
Student loans are provided without consigner based on needs. For example if you are independent from your parents, you can qualify for student loans without cosigner.
Do average college freshmen need a cosigner when getting Chase student loans?
Most freshman will in fact need a cosigner for loans. The need of a cosigner is dependent on how much good credit history the student has available. So, if for example the student was in their late 20's and had successfully paid all debt prior they would not need a cosigner.
Am I eligible for alternative student loans?
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.
Does a cosigner have to replay a federal student loan if the student dies?
Federal student loans do not currently have cosigners. Parents who take out federal PLUS loans for their kids often think they are a cosigner, when they are actually the sole borrower. All federal student loans are discharged if the student dies.
Is the APR of a student loan determined by the credit of the borrower or that of the cosigner?
The cosigner I believe but check with the loan issuers it's in the details.
What is a creditworthy cosigner for a private student loan?
a secured loan
Who gets garnished for student loan The borrower or the cosigner?
the borrower
Can the cosigner of a student loan be removed when the loan owner stopped paying because she was convinced to by a third party who used defamation of character against the cosigner?
It may depend on your local state laws, but generally, no. Once you cosign, you are liable for payments if the other stops paying, no matter the reason.
Can the borrower of a private student loan change the cosigner during the term of a loan or must she refinance to do that?
AnswerThe short answer is no, you can never change cosigner on a private student loan. If they die, however, it is transferred to you.
Can you get a student loan with no job or a cosigner?
Definitely, you can easily avail student loans without any cosigner with the help of various types of student loans programs available online. You don't have to be employed in order to get student loans. If you don't have any job then it doesn't matter even then you can get this loan. If you search online you will find various types of private lenders like Sallie Mae, Chase, Wells Fargo etc who offers loans to students without any cosigner. So, you can contact any of them and can get private student loans no cosigner.
