Should You Co-Sign a Student Loan?

Financing a college education is tough business these days, so any way to get a loan is normally viewed as a positive step. But co-signing a student loan is really pushing one’s luck. The good news is Congress is taking steps to crystallize what obligations a co-signer takes on with these loans.

The biggest risk is that something bad could happen to the primary beneficiary of the student loan, and you’ll be left with the bill. If the primary borrower can’t repay the loan, the co-signer will be held responsible.

Recently, a 25-year-old New Jersey man passed away. He owed $85,000 on a student loan, which both …

Read the original article at Mainstreet

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