Should a parent cosign for a private student loan?

lerkin
Fri, 22 Jun 2012 00:27:56 +0000

^^^
Yes, I know about the stats. Unfortunately as I already mentioned in some other threads my son has ADHD, which he does not control with medication due to side effects. He also does not have accommodations at his school as he is open enrolled in one of the best public HS in our state - you cannot be open enrolled if you receive special education services. As a result, he will be lucky if he has 3.5 GPA when he graduates. It is a struggle for him to keep his grades above B. He does take the most challenging curriculum at his HS and also takes more than full load (through a special program he got admitted to), but I don’t think it will matter for scholarships.

We don’t know yet what his test scores are going to be. Right now his SAT scores range range from 560 (W) to 700 (M) - definitely not scholarship material. Hopefully he will improve.

I pretty much resigned to the thought that I will be paying full freight at our local flagship. With AP credits and math classes he is already taking there, he will have at least one year covered there by the time he graduates from HS. So, hopefully I will only be paying for just 3 years.