«Some of this debt is from Federal Parent PLUS loan debt for their children, some from
private student loans cosigner for children or grandchildren and some for the retiree's own education including grad school.»
Technically you can get almost anyone to become
your student loan cosigner.
Student loan cosigners aren't just for undergraduate student loans.
Very often,
a student loan cosigner is a parent.
A student loan cosigner is a creditworthy adult who signs for a loan along with you.
Learn about your responsibilities as
a student loan cosigner and how cosigning a loan with Sallie Mae works.
As
a student loan cosigner, you're equally responsible for making sure that student loan payments are made on time.
Student loan cosigners are the answer in many cases.
Technically you can get almost anyone to become
your student loan cosigner.
But there are risks to being
a student loan cosigner.
In a new LendEDU survey of 850
student loan cosigners, we found that many parents are feeling the negative affects of their children's student debt where it matters most: their pockets.
In fact,
a student loan cosigner can essentially be anybody who is willing to do so provided that the individual has good credit, as this will help the student borrower in obtaining their needed funds.
If the borrower dies,
the student loan cosigner will still be responsible for paying off the remaining balance.
If the borrower dies,
the student loan cosigner will still be responsible for paying off the remaining balance.