cosigner Archives - Student Debt Diaries

Picking a Student Loan Cosigner

August 26, 2019 Jordan RothmanAdvice for Parents, Repayment Strategies

Many student debt borrowers need to secure a cosigner to guarantee their student loans. Students typically do not have a substantial credit history, and cosigners provide lenders an extra sense of security. A guest article (written by my brother) already teased out the issue of cosigners, but I also wanted to discuss a few considerations that come into play when picking a student loan cosigner based on my own experiences. As previously mentioned in a… Continue Reading Picking a Student Loan Cosigner

Siblings Can Help Each Other with Student Loans

April 8, 2019 Jordan RothmanRepayment Strategies

This website has already discussed some of the ways that parents can help their children with student loans. And it is of course true that parents can have a major influence on how their children are impacted by student debt. However, many people might not realize that siblings can also help each other with student loans. I am a triplet, and I have twin older brothers. We have all had to help each other throughout… Continue Reading Siblings Can Help Each Other with Student Loans

Cosigner Considerations for Parents of Student Loan Borrowers

August 6, 2018 Jordan RothmanAdvice for Parents

Parents can have a major impact on how their children are affected by student debt. Some parents are wealthy enough to completely pay for their children’s’ schooling, so that their kids do not need to borrow any money to finance their degrees. However, since it currently costs an insane sum of money to attend college or graduate school, many students will need to borrow money in order to pay for their educational costs. Nevertheless, parents… Continue Reading Cosigner Considerations for Parents of Student Loan Borrowers

Parents Can Help Their Kids Refinance Student Loans

July 30, 2018March 10, 2022 Jordan RothmanAdvice for Parents, Refinancing Student Loans

Many parents of student loan borrowers are probably very familiar with the concept of refinancing debt. Indeed, numerous individuals refinanced mortgages after the Great Recession to take advantage of historically low interest rates. In addition, many individuals also have experiences with refinancing credit card debt and other types of loans. Refinancing debt usually allows borrowers to spend less money on interest and enables individuals to pay less each month to service their debt. Student loan… Continue Reading Parents Can Help Their Kids Refinance Student Loans

Advice for Parents of Student Loan Borrowers: An Introduction

July 23, 2018July 23, 2018 Jordan RothmanAdvice for Parents

This website has previously provided advice on a number of subjects related to student loans. Indeed, prior articles have discussed repayment strategies, ways to save money, refinancing tips, and a number of other topics related to student debt. All of these prior articles have been directed to student debt borrowers. However, this website has not yet included advice for parents of student loan borrowers, even though parents are typically interested in issues related to student… Continue Reading Advice for Parents of Student Loan Borrowers: An Introduction

Fighting Against the Student Loan Scammers

June 21, 2018March 11, 2022 Adam RothmanGuest Articles, Repayment Strategies

Student loans are no joke. For those who rely on them to complete their education, these loans can soon become significant burdens. Monthly student loan payments often represent large portions of people’s discretionary incomes, and may prevent recent graduates from making key life decisions due to financial instability (marriage, children, homeownership…the list goes on). While cosigners can sometimes ease the burdens on student loan borrowers, they can also create a whole other set of problems… Continue Reading Fighting Against the Student Loan Scammers

Dealing with the Bankruptcy of a Student Loan Cosigner

May 17, 2018March 11, 2022 Adam RothmanGuest Articles, Repayment Strategies

In a previous article, I delved into the issues that can arise when a student loan cosigner dies, and how to best deal with any problems that may result. This time around, I will talk about a rarer, though sometimes more problematic dilemma: what to do when a cosigner declares bankruptcy. While renegotiating the terms of the student loan may still be an option, the worst case scenario (an automatic default) is what commonly occurs.… Continue Reading Dealing with the Bankruptcy of a Student Loan Cosigner

How to Deal With the Death of a Student Loan Cosigner

April 26, 2018March 11, 2022 Adam RothmanGuest Articles, Repayment Strategies

Paying for college can be tricky when your family does not have the financial means to cover the cost. While some students may be lucky enough to get help in the form of financial aid or scholarships (like me), for many, the only realistic option is student loans. Although government loans are an option for a majority of student debt borrowers, many students must also rely on loans from private banks to cover the rest… Continue Reading How to Deal With the Death of a Student Loan Cosigner