Nitro Knowledge. Your Guide to Paying for College.
Your years of PTA fundraisers, attending ball games and recitals, and playing chauffeur, are almost over. But before your child finishes high school you still have one task looming ahead: helping choose the right college.
It’s an exciting and scary time for both of you. For every daydream about fall afternoons on the quad your child likely has a related anxiety: What kind of school is best for me? What should I study? And how do I pay for it all?
Though the FAFSA might be a little more complicated when you have divorced or never-married parents, your family situation shouldn't hold you back from receiving as much student aid as possible.
Here, we'll walk you through some basic tips that can make completing your FAFSA a little less painful when your family situation is complicated.
The biggest pro of cosigning your child's student loan is obvious: You'll help them attain the education they need to secure their financial future. Plus, cosigning a private student loan is often the best way to fill tuition gaps at the lowest interest rate possible.
The biggest con is obvious, too: If your child doesn't pay for some reason, you may be on the hook. However, there's more to cosigning than meets the eye. Let's take a closer look at some things you should think about before you cosign your child's student loan.