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Students looking to qualify for loans with lower interest rates will often add a cosigner – often a parent with a more established credit history – to their loan. A co-signer can help borrowers improve their chances of being approved for, or get lower interest rates on, their student loans.
But remember – by signing on to the loan with the borrower, online payday loans Ohio the cosigner is agreeing to shoulder the responsibility of paying off the loan if the borrower is unable to repay it.
Read on to learn more about when you might need a cosigner and what to do if you don’t have access to one.
Who can be a cosigner on a student loan?
A co-signer can be a spouse, relative, parent, or any adult who is a U.S. Fortsett å lese «Taking Out Student Loans Without a Cosigner»