I have a friend who is going to cosign a student loan for an international student. I am in the US with green card petition approved but waiting for priority date to be current. So, I am not able to cosign the loan.
To reduce the burden on my cosigner friend, I want to have a legal agreement with cosigner that I will be responsible for repayment if he, for some reason, becomes responsible for it.
Can I have a promissory note or some other legal document with my cosigner friend with some clause that I will be responsible for repayments?
If so, what would be the language of the legal document?
Thanks in advance!
To reduce the burden on my cosigner friend, I want to have a legal agreement with cosigner that I will be responsible for repayment if he, for some reason, becomes responsible for it.
Can I have a promissory note or some other legal document with my cosigner friend with some clause that I will be responsible for repayments?
If so, what would be the language of the legal document?
Thanks in advance!