Should a parent cosign for a private student loan?

MomHappy
Thu, 21 Jun 2012 23:10:52 +0000

DO NOT co-sign for student loans, no matter what. I have heard many horror stories about co-signers. The vast majority of student loans can be sorted out without any co-signer. If they ask when applying for loans, simply say that is not possible.

Today with the economy in such poor shape, many college grads are working at Starbucks and Home Depot and can barely make ends meet. A graduate can extend their student loans for many years, if you co-sign you will not be provided this opportunity.

Here is some information worth reading:

[Default Rates Rise for Federal Student Loans | U.S. Department of Education](U.S. Department of Education)