Can parents take out a student loan for their child?

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Last Updated: June 30, 2022

Yes. Parents, guardians, or other family members or sponsors can choose to take out a Parent loan to help fund their student's college experience.

The Parent loan is entirely in the borrower's name rather than the student's, and the borrower takes full responsibility for repaying the loan.

You can also choose to cosign a private Student loan where you share responsibility for the loan equally with the student. 

 

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