What does a student loan company like Stafford do to co-signers? Do they get notified of the loan if someone?
What does a student loan company like Stafford do to co-signers? Do they get notified of the loan if someone takes one out and uses them as a co-signer but pays it back right away? If so, how? I joined the army so I get loan repayment.
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Answer by timmy44221
A cosigner must phisicaly sign a loan. The reason they want a cosigner is incase you cannot pay.
In that event they sue the cosigner for the remaining balance.
Basicaly, they will get their money one way or another.
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San Jose Mission Loan Closing 10
Image by Florida Community Loan Fund
San Jose Mission Loan Closing
FCLF's Cindy Ross (corner) along with legal counse David Punzak
Orignal From: What does a student loan company like Stafford do to co-signers? Do they get notified of the loan if someone? and San Jose Mission Loan Closing 10
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