Co-signing on student loans means the co-signer who may not have control of the payments will still have the updated payment history on their credit record.
The CFPB says, “Outstanding student loan debt has now crossed
the $1 trillion mark. Student loans have eclipsed credit cards as the leading
source of U.S. household debt outside of mortgages. This is a major issue for
students, recent graduates, and their families”.
We are finding that student loan defaults and delinquencies are at an all time high and those who have co-signed are, in many cases, left with the scars on their credit causing great problems moving towards the future.
We are finding that student loan defaults and delinquencies are at an all time high and those who have co-signed are, in many cases, left with the scars on their credit causing great problems moving towards the future.
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