Sentences with phrase «cosigner is a grandparent»

If your cosigner is a grandparent, you need to think about the implications cosgining could have on their livelihood.

Not exact matches

Or, if the borrower falls behind on payments, the grandparent - cosigner will be saddled with the debt — which could create a serious financial hardship for them.

A parent or guardian, relative such a grandparent, or even your spouse may be a potential cosigner for a student loan.

Or, if the borrower falls behind on payments, the grandparent - cosigner will be saddled with the debt — which could create a serious financial hardship for them.

While it usually ends up being the parents, anyone can actually be a cosigner so there are cases where grandparents, aunts, uncles and spouses have signed on.

What are the benefits of having a cosigner?A cosigner is a parent, grandparent, guardian or other adult who is creditworthy and willing to assume legal responsibility for the loan liabilities along with you.

When you originally took out your student loans, there's a pretty decent chance that you did so thanks to the help of a cosigner like your parents or grandparents.

Since students have short (or nonexistent) credit histories, private lenders usually ask for a cosigner - which usually ends up being mom, dad, or a grandparent.

It's easy to assume a grandparent would fit the bill for a strong cosigner, but you should take into account their financials such as income and credit history.

A duty often reserved for a parent, grandparent, guardian, or another creditworthy adult, cosigning on a student loan is an action in which the cosigner assumes legal responsibility for repaying the loan in partnership with the borrower.

With the consequences out of the way, it remains to be seen whether a grandparent cosigner would even help a credit application.

Typically, a cosigner on a student loan is a parent, grandparent, or guardian.

In most cases cosigners are parents or grandparents.

Cosigners are usually parents or grandparents, but virtually anyone can cosign a loan.

If you a student dies before college loans are paid, your parents, grandparents, or cosigner on your student loan will be responsible for paying off your college loans.