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A cosigner is someone who shares responsibility with the borrower for repaying the loan.The cosigner doesn’t have to be a relative; he or she can be any adult who meets the eligibility requirements.The average student loan debt for 2016 college graduates who borrowed for college, was ,172 and 70% of the graduates left school owing money.Private student loans are available, but every expert, even those who work for banks and credit unions, advise students to exhaust all avenues for federal aid first.Most borrowers will need a cosigner for this loan to meet credit, employment, and debt-to-income requirements.Rates are typically higher without a cosigner; however, borrowers that meet these requirements on their own do not need a cosigner (but may still choose to apply with a cosigner).Though there are two major sources of student loans — federal and private – the federal side dominates the action, both in amount of money available and loan repayment programs.There were 21 million students enrolled in colleges and universities in the fall of 2016 and eight million of them received federal loans from the William D. The students took in 6.3 billion in loans, or about ,040 per student. Ford Federal Direct Loan Program includes Direct Subsidized Loans, Direct Unsubsidized Loans, Direct PLUS Loans and Direct Consolidation Loans.

There are several types for which you may be eligible.

Wells Fargo Student Loans are offered by the Wells Fargo Student Loan Center.

These private student loans are highly beneficial for the students who need money for college to pursue a thriving career.

Working adults and parents enjoy financial aid for tuition and expenses at institutions like: The student loan market is no longer an exclusive realm for recently-graduated high schoolers hoping to become undergraduate college students.

Non-traditional students have access to many of the same large-scale student assistance programs that other undergraduates rely on, as well as a stable of resources that specifically target returning students and single parents.

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