Student Loan Cosigner: Is It A Must?

Student loan cosigner, is it a must? When applying for student loans, do I need a cosigner? In this episode, we’ll share with you things you need to know about cosigning a student loan, understand the benefits and drawbacks of private student loans and give you straight answers if you should actually do it.
00:00 Intro
01:40 What is a Cosigner?
03:28 Perks of Having a Cosigner
04:51 Cons of Cosigning
07:25 What Happens When No Payments are Made?
08:02 Who Can be a Cosigner?
Links Mentioned:
FAFSA Playlist: • FAFSA
Refinancing Video:
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[@TheScholarshipSystem]

What credit score do you think is necessary to be a cosigner? Comment below!

[@chrisg750]

725 and up

[@loganroca]

Love your videos! Trying to help my younger sister get out of nursing school without debts

[@TheScholarshipSystem]

Good to hear! This article may help: thescholarshipsystem.com/blog-for-students-families/48-scholarships-for-nursing-students/

[@coolchange1978]

Can you start paying the loan right away I mean can I pay for my daughter's loan like the following month if she receive the check today does it work like a credit card where I can start paying for the minimum that way it won't build up... thank you

[@beepbeep1281]

Am doing flight training and the financial department says I need a co-borrower! I have no one who can help. Both of my parents are deceased

[@kellycooper6080]

Should I get my first loan for both semesters vs the half semester?

[@TheScholarshipSystem]

You should review the loan's policies before deciding. You will need to take into account your future cash flow. If you get a disbursement later in the academic year, you may be subject to a higher interest rate.

[@American_2]

Do private loans have grace periods or deferments

[@TheScholarshipSystem]

It depends on the company issuing the loan. You may fine that some do (but the majority do not).

[@missymitchell2060]

Credit score over 700

[@TheScholarshipSystem]

Yes! That is generally what most lenders require!