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Will it affect my credit score and borrowing amount for future loans if I’d be a co-signer for a student loan?

T G asked:


I’ve just applied as a cosigner for my son’s college loan. Will it affect my credit score and the amount I’d be eligible to borrow in the future mortgages and home equity loans? (I have a perfect credit history and some mortgage-free properties)

Adrian

Tags: Credit Score, S College, Student Loan

This entry was posted on Wednesday, March 5th, 2008 at 4:12 pm and is filed under Credit. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to “Will it affect my credit score and borrowing amount for future loans if I’d be a co-signer for a student loan?”

1. nursesr4evr says:

   March 7, 2008 at 10:18 pm

   Have your son fill out a FAFSA at his college. Even if he doesn’t qualify for financial aide, he can get a student loan without a co signer.
2. linz_b says:

   March 10, 2008 at 8:11 am

   I think it can either help you or hurt you, depending on if your payments are made on time, etc. So if it’s your son making the payments, your going to have to keep on top of it always