Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Scores
Profile Image

Question By
COLLEGEMOM777

0 Contributions
0 People Helped
SO IF I COSIGN FOR STUDENT LOAN HOW DOES IT AFFECT MY CREDIT SCORE?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
1136 Contributions
358 People Helped

Don't do it!

You will be responsible for the loan should the person you're co-signing for not pay. Any late payments will be detrimental to your credit, and the loan increases your debt to income ratio. What if you need an emergency loan, but can't obtain one because you're responsible for this student loan.

Please don't co-sign for anyone, unless you're financially well off enough to bear the cost of the entire loan. 

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.