Search results
Results from the WOW.Com Content Network
Cosigning a student loan is a significant commitment that shouldn't be taken lightly. That's why it's crucial to carefully consider the long-term implications, and you should only do so if you ...
A co-signer takes on all the rights and responsibilities of a loan along with the borrower. This means that if the borrower can’t make a payment on the loan, the co-signer is responsible.
Getting a student loan can be complicated, and one way to improve your odds is to get a co-signer (or guarantor). Many borrowers resort to this option for a variety of reasons -- for instance, some...
If your child is seeking a private student loan, you’ll likely need to act as their student loan cosigner. Plus, the loan will appear on your credit report and hike up your debt-to-income ratio.
Student loans cannot be discharged in a bankruptcy proceeding unless the debtor can demonstrate "undue hardship." [44] After the passage of the bankruptcy reform bill of 2005, even private student loans are not discharged during bankruptcy. This provided a credit risk free loan for the lender, averaging 7 percent a year. [45]
The answer depends on the type of loan you qualify to get and a host of other financial factors. Here's the basic information you'll need to know.Image credit: Getty Images.
The Massachusetts Educational Financing Authority (MEFA) is a self-financing, not-for-profit state-charted student loan authority created by the Commonwealth of Massachusetts in 1982. [1] The authority was created to provide fixed rate student loans and operate the Massachusetts 529 plan U.Fund, launched in 1999, and its prepaid tuition plan U ...
Income-contingent repayment is an arrangement for the repayment of a loan where the regular (e.g. monthly) amount to be paid by the borrower depends on his or her income. . This type of repayment arrangement is mostly used for student loans, where the ability of the new graduate borrower to repay is usually limited by his or her inco