If you have poor credit, however, you won't be
approved as a cosigner, and your child will have to deal with their student loans alone.
Not exact matches
By acting
as a
cosigner, you may be able to help your child save money on interest and get
approved for refinancing.
If you think you come up short in any of these requirements, don't worry
as you can apply with a
cosigner to increase your chances of getting
approved for a student loan consolidation.
Having a family member who has a strong credit history act
as a
cosigner can help a great deal in getting your student loan
approved.
A
cosigner may help you to get
approved for a refinancing loan,
as well
as get a better and lower interest rate.
Just
as with thin credit for people that have not established a credit history, a
cosigner can turn the student loan for bad credit application into an
approved student loan application.
Even those borrowers who are over the age of 17 may find that it is a good idea to have a
cosigner,
as this increases the chances of being
approved and obtaining a better loan rate.
Although she had a bevy of federal student loans, Lyn still needed private funding, and her father acting
as the
cosigner helped her get
approved.
If you are starting your college education and have not established enough credit, having a creditworthy
cosigner will increase the chance of you getting
approved for a loan with a lower interest rate since you will be seen
as a lower - risk borrower.
Even with no credit history, you can usually be
approved for one
as long
as you have a
cosigner or have proof of income.
Removing your
cosigner improves his or her credit and and may allow him or her to get
approved for a large expense such
as a car or house.
If parents aren't
approved for a Citizens Bank Student Loan for Parents loan, they are encouraged to apply their child for a Citizens Bank Student Loan with themselves
as cosigners.