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Is it necessary to have a consigner when applying for the BC student loan?

I appreciate that federal and private lenders provide loans for students from BC to facilitate their learning. However, I think they have numerous procedures that can scare someone away. For example, most of the students` loans require a consigner agreement. It is easier when you take credit as an individual and plan on repaying it later as you please. As long as one knows their student loan balance, they can make arrangements even if it means considering a student loan debt consolidation program. Since I am considering taking a BC student loan, I would like to have my parents uninvolved unless it is student plus loan.

Megan Page

in Student Loans

1 answer

1 answer

Aaron Lee on April 20, 2018

I believe it is important to have a consigner for a loan you are taking to facilitate your studies. You may not seem to see the importance of it now, but as soon as you finish school, and you need to repay the loan, you will understand the necessity of having a consigner. Sometimes it is normal for students to desire to do things their way without considering their parents or guardians. I would not encourage a student to take a loan secretly without letting their parents know about it. It does not only provide security to the lenders but also gives you the peace that you have someone to help you in case you fail to get the financial budget required to clear it.

I know parents can take the students-plus loans to support their children. Every parent desires to deliver the best services for their children. As a result, one should not fear to have them as consigners when applying for the students loans BC. The fact that you may have a clear plan on how to clear your balance for the student loan does not give you security enough. Anything could happen, and you find yourself in a fix. This is where a consigner comes in. Having a parent to help with this can be such a relief.

I have had many friends whose plans after college completion never ended as planned. They knew paying their loans was not a big deal to them. It was a stressful moment for them until a friend of mine who works in one of the offices that give students loans came our way. One thing that he emphasized was that having a consigner making agreements with your lender is very important. I agreed with him because of the various ways in which a consigner can help a student pay their loan with little stress.

I know various lenders who give loans to students from BC without necessarily asking for a consigner agreement. You may want to consider this option. Nevertheless, you ought to know the merits and demerits of choosing such loan programs. You may finish school, and realize your loan debt is too big for you to handle. Despite the fact that you could consolidate the student loan debt, you would wish to have had a consigner to aid the whole process. My advice to you is to consider having consigners especially your parents or trusted people who are close to you.

Olive Wilson2 years ago

The necessity of having a consigner or not is based entirely on personal plans and preferences. The company offering student loan is also a determinant. If you need a loan from federal government and one of the requirements is having a consigner, then you can have little to do with it. However, if you feel comfortable not having a consigner, then be sure to make right decisions that will not inconvenience your repayment schedule. I know how some students hate involving their parents in debt payments. The issue of having your parent commit to helping pay the loan may not necessarily mean that they will have to pay. You can still work hard, and clear your loan debt to keep your parents out of the same. Most of the BC student loans are good, and most of them require a consigner. If you need the loans for students from BC, then you will have to come to terms with the issue of having a consigner.

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