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If you cosign a student loan does it show up on your credit report?


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Answered 2006-07-28 15:38:22

YES IT DOES....IF THAT STUDENT LOAN DOESNT GET PAID OFF BY THAT PERSON IT WILL COME BACK ON YOU AND CAN MESS UP YOUR CREDIT.MY FATHER COSIGNED FOR MY SISTERS STUDENT LOAN.BAD MOVE!!! BUT YOU LIVE AND LEARN......SO THINK ABOUT IT FIRST. Yes, it does. The reason is because you have to assume responsibility is left unpaid. This is considered debt to you.

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If you cosign for a student loan does it show up on your credit report before or after the student starts making payments?

It shows on your credit report even before they start making payments.


Does every student loan you cosign for show up on your credit report?

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.


Can a spouse with good credit cosign a student loan for their spouse with bad credit?

That is decided by the LENDER.


Can an employer co-sign for a student loan?

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


Can you get a student loan without a co-signer if you have bad credit?

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.


If you cosign a student loan will you still be eligible for a student loan for yourself?

YES


If i cosign a car for someone will my name come off in a year?

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.


If you cosign a student loan does it go against your credit?

It will be listed on the person's credit report. How it affects the report depends upon the amount co-signed for, the co-signer's personal debt-income-credit ratio, and if the primary borrower honors all the terms of the agreement, and other factors.


Can you co sign a student loan with bad credit?

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.


Get a student loan without a co-signer or steady income?

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.


Does the government look at your credit report before approving a student loan?

Depends on what type of student loan. If it's a Stafford, no. If it's a PLUS loan, yes.


If your student loan was in default but you are in a rehab program that will make your loan current once finished how much will your score increase?

The Student Loan GUY @ http://www.studentloanfundamentals.com Your Student Loan will become "Current" on your credit report. Now figuring out the score is hard because it depends on the rest of your financial situation. It depends on what you have on the credit report.


Can my husbands wages be garnished if I default on my student loan?

Not if he did not cosign on the loans.


How does a student loan forbearance affect your credit score?

A loan in forbearance permits a student to temporarily postpone their federal student loan payments. Or, the forbearance temporarily reduces the amount the student pays. Your students loans may show up on your credit report while in repayment status or out of deferment.


Can you have a person with new credit cosign your loan?

It's up to the lender.


How will a deferred payment look on your credit?

If it is a student loan, there will be a statement on the credit report. It will also show the date that payments were deferred.


Why do multiple student loans show up on your credit report but they are consolidated?

If your credit report is stating that these loans are not transfered loan, then you need to dispute this information with the bureaus.


Will a cosigner's credit be affected if they cosign for someone who has a bad credit score because of a Chapter 7 bankruptcy?

The cosigner's credit will only be affected if the person that they cosign for defaults on the loan. The bankruptcy will not affect the cosigners credit.


Will I be able to get a student loan if you cosign on someone elses for about 50000?

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.


Should i report a student loan payoff?

Always make sure that your credit report only states the most accurate information.


Can your husband cosign on a car loan with a suspended license?

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


Can someone on social security benefit's cosign for a loan?

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.


Do student loans affect a credit score?

Yes, they are like any other loan. they are listed on your credit report and affect your score.


If you cosign an auto lease will it show on your credit report if all payments are made on time?

Yes. It shows up on your credit report as a co-signed loan. The up side is you will receive credit for a good loan on your credit report. The down side is if you apply for credit they will usually count that debt as yours since if the maker does not pay you are responsible and if they use any type of debt to income ratio to qualify that will increase your debt %.


If i cosign a student loan what are my responsibilities?

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