Multiple Private Student Loans Thru Sallie Mae

Date: Mon, 06/06/2011 - 22:48

Submitted by anonymous
on Mon, 06/06/2011 - 22:48

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Total Replies: 3

Multiple Private Student Loans Thru Sallie Mae

My question is a fairly simple one. I have several private loans through Sallie Mae, one of which was co-signed by a relative as I was only 16 at the time it was agreed upon. If I were to go into default due to non- or partial-payment of my monthly bill, would this status be reflected on all of my loans, even if my co-signer had been making the full scheduled monthly payments on their particular loan?

You and the co-signer are equally liable for the loan. If you de

You and the co-signer are equally liable for the loan. If you default on the loan, then it will be reflected on both of your credit reports. However, I feel that Soaplady will be the best person to answer your query.

lrhall41

Submitted by anonymous on Tue, 06/07/2011 - 00:55

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FYI....being 16 years old and signing a private student loan agr

FYI....being 16 years old and signing a private student loan agreement has no bearing....there is no such thing as the defense of infancy for the student loans.

You need to make sure that the full payment on the cosigned student loan is being applied to that student loan.

lrhall41

Submitted by SOAPLADY on Tue, 06/07/2011 - 02:16

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X0f8pw

So, if I were to ensure full, scheduled payments on the co-signed loan, but fell behind in payments of my other private student loans also being handled by Sallie Mae, would all of these loans, including the co-signed one, go in to default?

Also, I wasn't implying any sort of commentary on underage loaning, simply mentioning it as a fact.

lrhall41

Submitted by anonymous on Tue, 06/07/2011 - 09:28

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