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If you are unemployed and can not cosign how can your daughter get a loan for college?


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2005-10-04 12:32:53
2005-10-04 12:32:53

Actually this should be easier for her as she will be seen as independent, all FSA apps need to be filled out and student loan apps as well, investigate your background and look into any organizations you have been with Masons, DAR, PTA's Girls Scouts, Boy Socuts and call until you find what you need. Even your local utility companies sometimes offer moeny for new students, She will be eligable for many programs, because you are on UE as well.

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Related Questions

As a co-signer you are taking responsibility for the loan if the signer defaults. If you are unemployed, why would you want to expose yourself to that risk?

Most of the time they need you to cosign in order to qualify for a loan. You can try a stafford loan.

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.

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

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

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.

Whether he lost his licence doesn't matter. What matters is that he is making money and is able to pay if you default on the loan. It also helps if he has good credit.

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. If the signer defaults on the loan, then you, as the cosigner, would be liable.

To cosign a loan is to guarantee payment if the borrower fails to pay.

Two people would need to cosign an agreement when for example, parents need to cosign the loan application for their child or to help a friend in need.

For the length of the contract you sign. If you cosign on a 3 yr loan, you are responsible for the debt for 3 years.

i was able to get an auto loan with the help of a cosigner and im under 18

ok Should not be a problem. A car loan is about credit, not driving.

The LENDER will have to remove any co-signor from the loan. Your only option is to have your daughter refinance the loan in her name only. She might be able to do this, given enough positive credit history on the existing loan and proof that it was her making the payments on time.

You need to ask a mortgage agent.

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

You need a lisence to drive the car, but not to cosign a loan.

Anyone can if they have enough good credit. Relationship to you has no bearing.

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