It’s extremely risky having a non-parent cosigning student loans. What if he doesn’t qualify after the first year or changes his mind? what if you can’t pay the loans back? I hope he can afford the huge risk and major hit to his credit.
@mom2collegekids The financial problem is a temporary one. I understand how this can be a problem, but I firmly believe that I’ll be able to pay back the loan in the future years. I’m planning to borrow only 1 semester’s worth of tuition. Plus, the cosigner is a very close family friend. He has helped out in previous situations. My parents and I trust him with all our hearts.
Thank you so much for the concern and the list I wish you a wonderful day!
I believe they need to show they have full funding for one year. But if it were me, I would be checking the college websites to make sure.
But more important…this student says this is a temporary situation. I’m wondering if this student even is applying for need based aid as an incoming international freshman…because IF he needs aid in the future, many colleges will not allow international students to apply in subsequent years if they didn’t APPLY as incoming freshmen.
I’m seeing confusion as to my status as a student. I’m currently in the middle of my 2nd year of college and I’m taking out a loan for only one semester. I will not explain my family’s financial situation but, I will write that after this semester I will be able to fully pay my tuition. I don’t see what the problem is here. I appreciate the concern though.