Will it affect my credit score and borrowing amount for future loans if I'd be a co-signer for a student loan?

Question

I've just applied as a cosigner for my son's college loan. Will it affect my credit score and the amount I'd be eligible to borrow in the future mortgages and home equity loans? (I have a perfect credit history and some mortgage-free properties)

Answer 1

Have your son fill out a FAFSA at his college. Even if he doesn't qualify for financial aide, he can get a student loan without a co signer.

Answer 2

I think it can either help you or hurt you, depending on if your payments are made on time, etc. So if it's your son making the payments, your going to have to keep on top of it always