You will likely need a loan co-signer if you plan to apply for a private student loan and have little or no income and not-so-strong credit. A co-signer may be a parent, family or spouse friend whom agrees to generally share the obligation for repaying the mortgage if you’re not able to make those re payments. However, if you don’t have someone that is ready to co-sign, you can find choices for getting student that is private with out a co-signer.
Understand the intent behind a co-signer.
A co-signer decreases a lender’s danger that the student that is private won’t be paid straight straight back.