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Student Loan co-signer

Discussion in 'Credit Talk' started by rackt3, Nov 3, 2003.

  1. Nov 3, 2003 #1
    rackt3

    rackt3 Well-Known Member

    Can anyone provide some info on what are the cons of co-signing a school loan? My brother needs a school loan, and a paid collection that we've tried to get removed doesn't seem to be moving fast enough.

    Are there school loans out there where a co-signer can be released early, after perhaps getting it re-financed? Thanks
     
  3. Nov 4, 2003 #2
    lbrown59

    lbrown59 Well-Known Member

    If he don't pay it's the co signers loan.
     
  4. Nov 4, 2003 #3
    DanS

    DanS Well-Known Member

    If your brother misses payments, it gets reported on your TL.

    Enough of a downside?
     
  5. Nov 4, 2003 #4
    rackt3

    rackt3 Well-Known Member

    Actually, I realize all that. I was actually looking to see if anyone knows of a bank that would allow a co-signer to be released from a loan early. I know citibank allows the co-signer to be released after about 3 years or so..
     

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