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If a student loan has been sent to collections as a charge-off can you still get another loan with the help of a cosigner?
Shelijo
I am writing for my son William Allen.He has some health and mental problems and is living with me and can not find a jobpaying enough to live on and he has a phobia about meeting with people he does not know.
I am worried about him. He has all this student loan money he owes, for awhile one of the places was garnishing his wages at Home Depot but that portion was paid off and he has another for around $40,000 but no money and no job as he got fired from Home Depot after working for them for 7 years. He was taking pain medication and they wanted a drug screen and he was afraid to go because he was drinking also at the time and so they fired him. So not even any unemployment money
He and grandson live with me and my husband just died and I am really short of money so can not help with any finances. Not much life insurance on husband because he was on dissability for a lung transplant. He has been so helpful until this past few weeks and now is very depressed and in pain. Won't take pain meds anymore so is trying to detox off alchohol and drugs at the same time and he is misserable. I am supposed to stay out of his problems for my own mental health but is so hard to watch him go through all this pain,both mental and physical.
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∙ 11y ago
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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 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.
How can you get a student loan with no cosigner and only 1 year of employment?
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.
Is a student loan valid if the person whose name it was put in was actually the cosigner and not the student?
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.
