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Can a parent co sign a small loan for their college student even though

the parent has a foreclosure on their record

 
alotleft2do

Asked by alotleft2do at 4:48 PM on Mar. 18, 2011 in Money & Work

Level 18 (5,609 Credits)
This question is closed.
Answers (5)
  • It depends, contact a financial institute and ask them.
    kitchenwitch78

    Answer by kitchenwitch78 at 5:03 PM on Mar. 18, 2011

  • It'll depend on the parents credit score.
    Anonymous

    Answer by Anonymous at 5:07 PM on Mar. 18, 2011

  • Perhaps- it depends on where they go to get the loan, and how long ago the foreclosure is. I'm sure there is someone that would be willing to give the loan- but the terms might be outrageous.
    Erica_Smerica

    Answer by Erica_Smerica at 6:11 PM on Mar. 18, 2011

  • If your child has filled out a FAFSA then all you have to do is fill out the loan part and it will tell you whether you have been denied or not. I qualified for a loan for my daughter and I am currently looking for work and have debt from my divorce.
    sarchasmicangel

    Answer by sarchasmicangel at 11:11 PM on Mar. 18, 2011

  • Don't know the answer but I have heard time and time again to NEVER co-sign for your child's loan.
    Anonymous

    Answer by Anonymous at 8:41 AM on Mar. 19, 2011

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