Does anyone know of a USA bank that I am able to use a cosigner from England for my student loans?
I basically owe the university I attend money, and the only person I have available to co sign is someone overseas in England. Any advice would be appreciated.
JS:
Here’s the problem:
A cosigner is only good to the lender if the lender has legal recourse against the cosigner’s assets.
If you’re unable or unwilling to pay, and the lender is forced to turn to your cosigner to honor your debts, they’ll be hard pressed to collect from a foreign national, with assets held in foreign banks and investments. It may not be legally impossible, but it’s an extra hassle that lenders aren’t anxious to deal with.
Never say never, but generally speaking, a lender on an educational loan will not accept a foreign national as a cosigner, unless that individual has significant assets in the US.
I’m sorry for the disappointing news. Good luck to you.
