co-signing questions

anteri
Tue, 26 Aug 2014 14:21:35 +0000

Is it easier to get approval to co-sign for an undergraduate loan than a graduate school loan or is it basically the same standard? Also, is it more difficult to get simultaneous approval to co-sign for two undergraduate students than it is for one? Is it like a PLUS loan where if the parents have a certain certain credit score they’ll be approved? Or are the amounts being borrowed and currently outstanding considered?

Under very specific circumstances, I co-signed once for a family member. There may be a situation looming on the horizon in that same family so I’m trying get an accurate assessment of the situation and to lay some groundwork for saying no without damaging family relationships.

Thanks in advance for experience and insight.