Tag: cosigner private student loan debt

co signing a private student loan

Why Co-signing on a Private Student Loan Can Ruin Your Credit

Many students who have difficulty financing their college education will often ask their parents, grandparents or other relatives to cosign on a private student loan.  Too often the knee jerk reaction is to say “yes!”  Parents and grandparents feel that a college education is a great investment and are more than willing to help a relative.  However, Co-signing a student loan can be disastrous if the student doesn’t pay the student loan back.

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