Disadvantages of cosigning college student loans?
My best friend just asked for me to cosign her student loan because none of her parents can do it. I would be willing to, however I do not know how this may affect or disadvantage me. I know that if she does not pay in the long run I am reliable for paying, however, other than that how else can I be affected? Does it go on my credit? Anything else I should know before cosigning?
That you would be out of your mind to co-sign. Can you really afford to make her payments for the life of the loan? That’s what you’re signing up for.
