Why Private Student Loans Are A Dangerous Game

Co-signing a younger relative's private student loans doesn't seem like such a reckless idea. After all, it's an investment in their education and careers, they'll certainly be able to pay it all back once they're educated, and they're going to outlive you, anyway. That's not always the case, and the risks can be substantial. Jessica's best friend had her grandfather, now 80 years old, co-sign her private loans with Citibank. After her sudden and shocking death, now he's on the hook for $70,000.

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