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is it legal to issue a student loan to one person to be used by a different person?
2 Answers
- 9 years agoFavorite Answer
Maybe Kyle should have read the question before making another one of his stupid comments. The question is is it "LEGAL" and the answer is no. You have very specific usage restrictions when taking out a loan and using that money for another individuals education is not one of them. Is it "IMPOSSIBLE"? No, it's very possible and probably happens more then we realize. As soon as you get your dispursement take that money and pay for the other persons tuition and/or fees. It would be no different then using the money to go on vacation. It's not what the money is intended for but your choice.
- 9 years ago
Legal sure. Why would you. It falls on your shoulders and credit if that person fails to pay. Never co sign on any loan let alone pull out a loan for someone else.
