Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
While there are many reasons for not co-signing a loan, here's one that I hope none of us ever has to face. Recently, a friend's daughter died in a car accident and she had several student loans. Fortunately, none of the loans were co-signed, so they are in the process of being written off. Had they been co-signed, our friend would have then become responsible for paying the loans off. Also, we found out that you should not acknowledge any correspondence from the student loan agencies, since it might cause them to inquire further about payment.

Calvin
Print the post  

Announcements

Paying For School Guide
Trying to Tackle Tuition? The Motley Fool's Guide to Paying for School will help you fight those rising education costs.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.