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Is it possible for a retired family member to be a cosigner on a student loan? |
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Answer
Federal student loans do not need a cosigner. Your Uncle Sam is guaranteeing them.
Answer
If you are not applying for a federal student loan, but trying to get an alternative educational loan, some lenders, such as Bank One, will review financial information for a retired co-signer, as long as they submit 1099's (certain tax documents) that they have received for the prior two years. Read the FAQ at this site http://www.educationone.com
First answer by Rfor. Last edit by Elizabeth Rushen. Question popularity: 163 [recommend question]
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