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If i cosign a student loan what are my responsibilities?

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Answered 2008-05-01 19:40:55

Go to and that will give you all the info. you need.

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Yes, an employer can cosign for a student loan. Any one can cosign for a student loan if they meet the requirements.

The loan you cosign is going to count as a loan that you have. If you have the income to support that loan, plus yours, from a loan officer's point of view, you may be able to get a loan. Generally, though, cosigning is a bad idea for anyone.

I don't know, can she? Only the lender can answer that question.

the answer is NO, to cosign a loan you have to be a US citizen or Permanent Resident. in most cases applicant must have SSN and be a PR in the united stated to cosign

Yes, there are a number of student loan options for those who can't get anyone to cosign and those who have bad credit. One option is a federal loan.

Yes, there are a number of student loan options for those who can't get anyone to cosign and those who have bad credit. One option is a federal loan.

In the USA, if the student loan is Federal like a Stafford or Perkins loan, then yes you can cosign with bad credit. If the student loan is a private student loan, then no, you must have good credit. Keep in mind, you should never take out private student loans out until you have used up Federal loans, grants, and scholarships. Private student loans have high interest rates and no benefits.

absolutely not. Minors are not able to cosign any loans, only an adult (eighteen years or older) is aloud to cosign a loan. the law states that any minor is not responcible for the repayment of any loan.

Grandparents might not cosign a loan because they might not trust a grandchild or the grandparents might not think they will have the income. Sometimes grandparents simply do not like to cosign loans. Ask the grandparents. Most grandparents will give an explanation.

In the US, the answer is yes you can. If your husband need help with consolidating his defaulted student loans, please click on the link under the "Related Links" section below.

If you are a minor, you cannot LEGALLY cosign or sign any loan/contractual agreement.

If the creditor chooses to report the loan, then yes, the account will show on your credit report. A co-signer is 100% liable for the balance of the loan, whether reported or not.

You can apply by yourself as you long as are 18 yrs or older. Talk with your school councelor. There are plenty of lenders that specialize in student loans. FAFSA (Free Application for Federal Student Aid) is a great start. There is alot of information as well as filing for student loan thru them. Most are student loans that will be on deferment til you are out of school for whatever reason.

Yes, someone on the social security can be able to cosign for a loan. The person cosigning the loan however has to have good credit regardless of his availability on the social security benefit.

No. It doesn't come off until the loan is paid and if the person who is getting the loan doesn't pay you will owe for the loan. When you cosign it also goes on your credit report.

Never cosign a loan. While I agree that one should NOT cosign. cosigning can hurt or help. Remember that if they do not pay you have to. Cosigning will affect your credit and count towards your debt to income ratio and show as an open joint auto loan. You might be turned down to get your own auto loan without a cosigner if you cosign.

Yes, it is possible to cosign for student loans for two children. To cosign, one will have to meet the credit requirements.

In all liklihood not, and why would you? If that person defaults in any way, you then become responsible for not only your own debt, but theirs as well.

You can view the laws for student loan consolidation online at the Loan Consolidation.ed Network website. Once on the page, click on "Application Home" in the top navigation bar and then click on "What are my rights and responsibilities?" in the left navigation.

Parent Loan: A parent is getting the loan Student loan: A student is getting the loan