Student Loans?
Asked by VoirDireI have a couple questions regarding student loans for college. My first question and most important is, would a parent have to co-sign on the loan? And if a parent has bad credit, would that affect me being able to get one? Thanks.
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Answered by Found-1
Federal Student Loans do not require a parent cosigner or a credit check. They are given in the students name. There are parent loans called PLUS loans that the parent can take out instead, or in addition to, student loans. Parent loans require a credit check (of the parent) but do not effect the student's student loan at all. Here is a good publication regarding the kinds of student loans and the maximum amounts you can borrow.
Federal Student Loans do not require a parent cosigner or a credit check. They are given in the students name. There are parent loans called PLUS loans that the parent can take out instead, or in addition to, student loans. Parent loans require a credit check (of the parent) but do not effect the student's student loan at all. Here is a good publication regarding the kinds of student loans and the maximum amounts you can borrow.
