[hfinkel]

Say I am a cosigner and the student has defaulted on their loan.
I begin paying to avoid the derogatory credit indicators on my credit record.

Do I have any legal remedy available to hold the student responsible for their refusal/failure to pay? Are any or all of the remedies normally available to their academic institution and/or lender available to the cosigner (withholding of academic transcripts, garnishments, denial of future student financial aid)?

All of these questions are, of course, applicable to a student who resides in the US or Canada and has not skipped the country.

Thank you.

[aaron]

You can seek to recover the money you have to pay from the student borrower. That's about it.

[hfinkel]

Are the remedies as a creditor available, e.g. proceeding direct to a collections process, or is a fresh civil suit required to pursue collection?

[seniorjudge]

Are the remedies as a creditor available, e.g. proceeding direct to a collections process, or is a fresh civil suit required to pursue collection?

Your question is unclear.

But what you have to do is sue the other person and get a judgment against him.

Then you try to collect on the judgment.

If the other person has no assets, then you would be wasting your time to sue.

[hfinkel]

The remedies available to student loan lenders is beyond that available with a civil suit. They are able to block the issuance of transcripts, render the student ineligible for future financial aid and prevent the discharge of student loan debt which is specifically protected under the newer bankruptcy laws. Prusumably none of this is available by a co-signer by civil suit, non?

[moburkes]

The remedies available to student loan lenders is beyond that available with a civil suit. They are able to block the issuance of transcripts, render the student ineligible for future financial aid and prevent the discharge of student loan debt which is specifically protected under the newer bankruptcy laws. Prusumably none of this is available by a co-signer by civil suit, non?

That is correct. Are you French?

[seniorjudge]

Q: Prusumably none of this is available by a co-signer by civil suit, non?

A: You are not a LENDER; you are a BORROWER.

[hfinkel]

Of course.

As a co-signer, is there any way to secure the recovery options available to a lender cited above?

Do lenders work with co-signers in this regard in such cases (given the co-signer has paid the debt or kept the payments current)?