I need a private student loan and the only way my co-signer will help is if the loan doesn't fall back on them
2006-10-12 02:20:31 · 4 answers · asked by iGNORANT GiRL 4 in Education & Reference ➔ Financial Aid
No.
The definition of a cosigner is someone who agrees to take responsibility for the loan if you screw it up.
2006-10-12 02:28:21 · answer #1 · answered by agentdenim 3 · 1⤊ 0⤋
Jim gave a super answer explaining the debt-to-income ratio... and your father and mom ought to understand what meaning. you may attempt to coach for very own loans through different lenders. in the journey that your father and mom are keen, they must prepare for a PLUS loan. this could be a private loan that they take out of their call and that they are liable for; notwithstanding, in the event that they have been keen to take accountability on your private loan... i do no longer possibly see a distinction. they're going to initiate compensation while you're at school. in the event that they are denied a PLUS loan, then you definately would be eligible to borrow the quantity an autonomous pupil can, it quite is $4,000/300 and sixty 5 days greater. you will no longer have the skill to get $8,000 greater; notwithstanding, you need to artwork area-time or finished-time and pay for something out-of-pocket... or, you will ought to opt for a greater much less costly college to attend.
2016-10-19 06:30:44 · answer #2 · answered by avey 4 · 0⤊ 0⤋
Try the links in http://www.thequickinfo.com/student-loans/
2006-10-12 08:59:22 · answer #3 · answered by Anonymous · 0⤊ 0⤋
the whole point of a cosigner is they are co-responsible for the loan repayment. you need a loan that doesn't require a cosigner. if there's a cosigner, they'd be responsible.
2006-10-12 02:28:03 · answer #4 · answered by nuejerz 2 · 1⤊ 1⤋