THE ULTIMATE GUIDE TO COSIGNING STUDENT LOANS
What you need to know before cosigning a student loan
THE BASICS
Many families venture into the student loan landscape to pay for college. While there’s no magical map to follow, there are good routes worth exploring.
PROS VS CONS
Before you agree to cosign on a loan consider the conditions, the benefits to your child, and the drawbacks to your credit.
HOW TO COSIGN
If you agree to cosign on a student loan analyze your options and lay down an agreement with your student. Don’t forget to monitor payments.
THE TALK
Share with your children how much can you contribute to their college education and how can you support them in their efforts to cover the rest.
MAKING PAYMENTS
Understand the financial responsibilities of student debt and help your child realize how a loan can impact their future.
LOAN ALTERNATIVES
If you don’t want to be fully responsible for your child’s tuition but want to contribute, consider a Parent or a PLUS loan, or ask your family for help.
Parent Student Loans for College
It takes a village to get a child through college. With Multi-Year Approval†, you could get up to 100% of college costs covered until graduation.