Sentences with phrase «responsibilities as a cosigner»

Knowing your responsibilities as a cosigner is an important first step towards helping your loved one cover the cost of school.

Not exact matches

A cosigner takes on just as much responsibility for repaying the student loan as the primary borrower does, and is equally affected by any missed payments.

Learn about your responsibilities as a student loan cosigner and how cosigning a loan with Sallie Mae works.

They should also know that as a cosigner they are also assuming full responsibility for the loan.

A lender can try and force cosigners to repay the loan, because that cosigner is considered another borrower, with the same responsibilities as the student borrower.

Remember, a cosigner agrees to all the same obligations as a borrower, so cosigning a loan is a huge responsibility.

Got another question — «my father is listed as a cosigner on my private student loans, how can I take him off so that I have the sole responsibility?»

The bank will consider the cosigner's credit score as well when applying for the loan, and that individual will assume financial responsibility for repayment in the event that you can't pay the loan back.

Just as a borrower is responsible for on - time monthly payments until the loan is satisfied, a cosigner shares that same responsibility.

You, as the student, would likely be paying back the loan, but if for some reason you miss a payment or can not pay one month, the responsibility falls on your cosigner.