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Anti IMF Loan Protest in Down Town, Cairo

Anti IMF Loan Protest in Down Town, Cairo
loans
Image by Gigi Ibrahim

Question by Brittaney: If you consolidate student loans, what happens to the responsibility of the cosigner?
I am looking into consolidating my student loans. I have 2 separate cosigners on the loans. If I consolidate, does that release them of their responsibility to the loan? Or are they still attached as cosigners?

Best answer:

Answer by trh2000_2000
Consolidating means you are using a bigger loan to pay off smaller loans.

So, in short, the old loans are now done and the previous co signers are no longer bound to the new balance. Unless they co sign for the consolidated loan, they are not responsible anymore.

Know better? Leave your own answer in the comments!

Anti IMF Loan Protest in Down Town, Cairo
loans
Image by Gigi Ibrahim

Anti IMF Loan Protest in Down Town, Cairo
loans
Image by Gigi Ibrahim

Quicken Loans Arena
loans
Image by seng1011
Cleveland, OH

Diamond DV20 at LOAN Airport, Wiener Neustadt 6/5/10
loans
Image by randy_adamczyk

i am your online news and resource center for the subprime loan industry. bow, mortals.
loans
Image by undergroundbastard
Weirdest undergroundbastard sighting yet. Hard to believe a catchy URL like "worldallsubprime.com" in such a dynamic industry fell on hard times.

I’d expect my hijacked image will help them get back on their feet any minute now.

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