2007-01-02 08:21:50 · 5 answers · asked by Anonymous in Education & Reference ➔ Financial Aid
The purpose of having a reference for student loans is so that whoever is loaning you money can see what your background is like. They could ask your friends what type of personality you have, and maybe even if you owe any money. I don't believe the Loan company would harass your friends if you don't pay back the money, because then your friend could file a lawsuit against them. As if you were applying for a job, the reference is just so that the company can learn more about your personality and yourself.
2007-01-02 08:31:32 · answer #1 · answered by Anonymous · 0⤊ 1⤋
a reference, in any application process, is someone who can vouche for your reliability and the truth of whatever you put on your application.
a reference is not the same as a co-signer, and no one is going to call a reference and bother them if you don't pay your bills.
2007-01-02 08:29:26 · answer #2 · answered by KJC 7 · 0⤊ 1⤋
If you skip payments and they can't find you they call up your "references" and ask them if they know how to get in touch with you. They want their money back!
2007-01-02 15:24:33 · answer #3 · answered by Honesty given here! 4 · 0⤊ 0⤋
So Sallie Mae has someone to pester until your poor reference gives up your address and phone number so Sallie Mae can in turn pester you.
2007-01-02 08:25:16 · answer #4 · answered by LoneStarLou 5 · 1⤊ 1⤋
so when you dont make your payments they can harass your family and friends
2007-01-02 08:23:45 · answer #5 · answered by Tammy G 3 · 2⤊ 1⤋