Why Do I Need a Cosigner for an International Student Loan?
July 20th, 2012 by Jennifer Frankel
If you are planning to apply for an international student loan, you will soon run across the term cosigner. A cosigner is someone who assumes responsibility in case you are unable to pay back the loan. All international students in the US and many US students going overseas will need to have a cosigner in order to be approved for a student loan.
So while you may be asking yourself, “why do I need a cosigner for an international student loan?” you will soon find that there are many advantages to this. First, all international students are required to have a cosigner in order to apply to a US student loan. This requirement is standard for all US loans.
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