Wednesday, August 17, 2011
Does the parents of college students usually co sign for loans?
I would advise your friend to go with his son to the financial aid office at the school and speak to a financial aid officer. They can help him understand why he needs to cosign for these student loans and exactly how much his son needs for college. If your friend has already paid for dorm fees and tuition, then why does his son need more money? Did his son fill out a FAFSA? These are all questions that the financial aid officer can answer. If this man's son won't take him to the financial aid officer, he should be very concerned for the motive behind his son's need for a loan.
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