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Home Q&A Forum Do I have a leg to stand on as a co-signer for my grandson's student loans?

Consumer

Release of Liability

Pennsylvania

Asked on Jul 7, 2023

Do I have a leg to stand on as a co-signer for my grandson's student loans?

I co-signed for my grandson's student loans. He defaulted on the Sallie Mae loans so my credit rating dropped form 825 down to 625! I picked up the payments in order to stop the fall of my credit. He promised to pay but I have not seen a penny. Also I have a parent loan I didn't know about that my daughter signed me up for so I'm paying that. My question is, do I have a leg to stand on with this fiasco. I will mention that I am going on 84 years old on a fixed income so this is a burden especially since the rest of his federal loans will need to be paid starting ion October because the pandemic forgiveness will be stopped.

1 Attorney answer

Answer

Consumer

Pennsylvania

Answered 372 days ago

Angela H.

ContractsCounsel verified

Business Lawyer
Licensed in District of Columbia, Pennsylvania
Free Consultation

Depending on the circumstances, if certain payment requisites have been made, one can petition to have a cosigner released from the account.

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