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Answer Question One To Win $100!

Posted on July 2nd, 2014 by Bryanna Davis

Q1 falling bills 487780785If you haven’t already heard, we are teaming up with International Student Loan during the month of July to help you understand international student loans and give you a chance to put up to $300 in your pocket! During the month of July we will release three questions- and we are releasing the first one today!

How Do You Win?

Answer question one to win $100! Give us the right answer to the question below and you will be entered to win. You can post the correct answer as a comment on this blog below or through our Twitter and Facebook page. Please post the correct answer before July 9th at 3pm EST. If your correct answer is received after 3pm on July 9th you will not be eligible to enter the $100 drawing. The winner will be announced on July 10th through our social media platforms, including this blog.

Answer This Question: What is a co-signer?

And the Winner of $100 is: Islam Taher

“A cosigner is someone who guarantees that if the borrower cannot pay back the loan, they will be legally responsible to pay back the debt. In other words, the cosigner is taking on a huge responsibility for the international student loan or study abroad loan since they are being asked to accept the responsibility of paying back the total loan amount plus any interest.”

Need A Tip?

If you’re not sure what a co-signer is, we are happy to give you some help! If you visit here you can find out!

Tell us the correct answer to our very first question in the Financial Aid Fun contest and you’ll be entered to win $100!

Written by Bryanna Davis

Bryanna joined EIC in 2011 after returning to the United States from teaching English in China. Her interest in international education, sparked initially by her own study abroad experience in Wales, led her to the company. Bryanna is originally from Missouri and is a graduate from the University of Central Missouri.

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18 Responses to “Answer Question One To Win $100!”

  1. A co-signer is someone who is a resident of US, or an immigrant who as stay in US for two years or more an as good credit. Says:

    miracleDEscience@yahoo.com

  2. Margareta Rončević Says:

    A co-signer is someone who guarantees that, if the borrower can’t pay back the loan, they will be legally responsible to pay back the debt. Co-signer has to be a person of trust and with steady incomes.

  3. MArk Says:

    A co-signer is someone who agrees to guarantee the loan repayment or debt as international students might not be finiancially verifiable

  4. Sarah Says:

    A co-signer is someone who guarantees that if the borrower cannot pay back the loan, they will be legally responsible to pay back the debt.

  5. Kintu Gideon Says:

    A co-signer is one whose obligation is to repay a debt arising only after the borrower has defaulted on the principal amount as well as interest; however, co-signing a loan is not without risk. A person co-signing a loan should be comfortable with the borrower’s credibility.

  6. Camille Renee Says:

    Co-signer: someone who becomes obligated to take responsibility for a loan or instrument given to the original signer.

    Otherwise known as parents, lol!

  7. Hamza Says:

    If an individual or a party is entering into a contract with another party, a co-signer bears legal liability so that the agreement or the obligation is upheld even if the other co-signer fails to do so.

  8. Temitope Ogunsakin Says:

    A co-signer is someone who agrees to jointly bear the responsibility to an agreement thus providing evidence, by signature, showing that he or she will satisfy the conditions of the agreement in place of the original signer should there be a default.

  9. Katie Parsons Says:

    A co-signer is someone that has good credit and signs a form on behalf of someone with bad credit to help them buy something, like land, so that the seller will have confidence that he will get his payments.

  10. Yoo Ream Kang Says:

    Co-signer is one who executes an agreement or other document in concert with another. Co-signing often involves a promise to pay another person’s debt arising out of contract if that person fails to do so. It is often required for people with no credit history, such as international students.

  11. Elias Galvan Says:

    A Co-Signer is someone who guarantees that if the borrower cannot pay back the loan, they will be legally responsible to pay back the debt.

  12. Pieter Ben Lubini Says:

    A co-signer is someone who agrees to sign a loan with the student because the student might not match the citizen or credit criteria required. The co-signer meets all the requirements and therefore helps the student obtain the loan, however the co-signer is also going to be responsible to payback for the loan if the student is unable to.

  13. Raviteja Says:

    A co-signer is a person( Can be a parent, close family member or friend) who can assure the lender that they will repay the amount which has been taken by other person.
    Eg. X want to take a loan of 1000 USD from a bank, the bank asked for a co-signer. So Y turns up as co-signer to repay if X cannot repay it. This will assure the bank to give a loan to X

  14. ERICK GEORGE Says:

    co-signer is a person or an obligor is a person who becomes obligated under any commercial paper such as a promissory note or a check by signing the instrument in conjunction with the original obligor, thereby promising to pay it in full.in addition the co-signer may be held equally responsible for the payment of the debt or may be required to pay only upon the failure of the original obligor to do so depending upon state law and the terms of the agreement that also determines the rights of the co-signer.

  15. Alexandria Johnson Says:

    A co-signer is an (credit worthy) individual that signs as a guarantor that your loan will be repaid. Basically you are using their credit status/rating to acquire a loan and they are saying that they will pay if you do not.

  16. Esther Onoruke Says:

    A co-signer is a person or a guarantor that sign a document,receipt or an agreement before it could be legal. for instance,the signing of a statement by a lawyer(who stands as the guarantor),that a particular person would be able to perform a particular result(for example,if a trader does not have the money to purchase a car but his willing to pay back in a months time the lawyer act as a co-signer to the agreement).

  17. Ana Menk Says:

    What is a co-signer? A co-signer is a person who volunteers and guarantees to a creditor that if the debtor cannot repay his loan, they will have full responsibility in paying the debt back. It’s a huge responsibility for the co-signer because they are taking on a debt that is not theirs.

  18. Sana Khan Says:

    A co-signer is a person who guarantees that if the borrower cannot pay back the loan he will be legally responsible to pay back the debt. Infact a co-signer holds a great responsibility on behalf of the borrower. Usually international students are asked to arrange for a co-signer before taking loan from any organisation. So a co-signer plays a part of witness as well.

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