is it neccessary that all students must need a co-signer to be able to take out a loan of say $5,000?
2007-06-23 13:58:09 · 4 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
The best thing to do is to consult with your student loan advisor. They can tell you all the details about how much you can take out and what you will need to do to get the loans.
2007-06-23 14:01:45 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I graduated with around $12,000 in student loans. I was never asked for a co-signer. Mine were Federally guaranteed loans. That means that the Federal government was effectively a cosigner. With that guarantee, why would the bank need another co-signer?
2007-06-23 21:11:33 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
No it isn't. Not unless you've maxed out your eligible loan amount from the federally sponsored programs and you are borrowing from a private loan program.
My advice is to avoid student loans as far as possible. Try to get free grant money and scholarships first.
2007-06-23 22:59:19 · answer #3 · answered by webhead28 6 · 0⤊ 0⤋
Do all you can to avoid taking out student loans, there are all kinds of scholarships available
2007-06-23 21:03:43 · answer #4 · answered by rpmp 2 · 1⤊ 0⤋