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Greetings. I am a Danish citizen, born and raised. I have just gotten admission at East Carolina University. I am now applying for student loans with a US citizen co-signing. But my co-signer have some concerns regarding insurance and liability in case of any legal issues that may arise whilst I'm studying in the US. If I were to get into any kind of legal issue whilst studying in the US, would my co-signer on my student loans, then by liable to pay off my legal-debt? I fail to see how he can be put responsible for anything other than repaying the student loans he's co-signing, should I not make the repayments. I hope you can help me clarify this. Thank you in advance. Regards, Patrick Gold
1 ANSWER
Cosigning a loan does not create any liability other than for what is stated on the loan documents.
Answered on Oct 11th, 2016 at 2:18 PM