Risks of Cosigning: Resources for Parents and Students
The Student Loan Report - a student loan news and information site.
Did you know that cosigning a student loan can be risky business? According to a recent survey, the majority of parents of incoming college students do not understand the risks of cosigning a student loan. This month, we are working to educate parents and students on the risks including the long term financial impact and the emotional consequences.
At The Student Loan Report, we encourage incoming college students to seek financial aid and student loans without cosigners. This month we released a new guide (with videos!) dedicated to helping students and parents find and compare non-cosigned sources of financial aid.
You can find the guide here: https://studentloans.net/student-loans-without-a-cosigner/
I was wondering if you would be willing to share the guide on your website to help educate your families.
This guide covers the following main points:
- Pros and Cons of Student Loans Without a Cosigner (videos!)
- Federal Aid Available Without a Cosigner
- Private Student Loans
- How to Apply
- Comparison of Federal vs. Private Aid
We understand that you may receive requests like this often, but we truly believe our resource is unique in the way that we are trying to highlight the risks and alternatives to cosigned sources of financial aid.