Co-signer for a private student loan?
October 14, 2007 – 12:19 am | by cgeeStudents, should you use a co-signer when applying for a private student loan? More importantly, parents, should you co-sign on your kids student loan?
In our opinion, yes. As long as your son or daughter agrees to take over the payments when he or she graduates from school. By using a co-signer, often times you will obtain much more favorable interest rates and loan terms. This will save you hundreds, even thousands of dollars down the road when it comes time to pay your loans back. Also know, many times lenders offer deferment options which prevent you from having to make any payments until up to six months after graduation!
