No tuition deduction exists to start..and if one did you couldn't as you incured no expense, other than finace expense
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.
Not possible as the applicant is a minor.
You should talk to your college's Financial Aid office, who will be able to direct you to potential loan sources which may not need a cosigner. Most students are not going to be able to get a loan without a cosigner unless it's something like a guaranteed student loan, in which the government is effectively your cosigner. You will need to qualify for a GSL, though, and your financial aid office will help you with that.
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.
For most parentsTax benefits for college education can be deducted only in the amount of the tuition and fees paid, not for loan money used for room and board and most cases not for books. If the student has government grants and scholarships that pay part or all of the tuition, these funds have to be used for tuition. Then the amount available for tax rebate is only what is left from the tuition bill and the other 2/3 of the loan goes for room, board and living expenses which have no tax rebate.
The rising costs of college tuition have made it almost a necessity to apply for a student loan today. Students not only have tuition costs, but the cost of books, meals, gas, cell phones, recreation, etc. The variety of student loans enables students to take care of their varying college expenses. A student loan however, is a loan that must be repaid under specified circumstances.
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.
the borrower
If you're creditworthy, sure!
You may want to consider a federal student loan as these types do not require a cosigner.
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.