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When considering a personal loan with a co-signer, it’s crucial to understand both the benefits and responsibilities involved. Personal loans, often used for significant expenses like weddings, home improvements, or debt consolidation, typically come with higher interest rates and potential fees. While a co-signer can help secure a loan for someone with limited credit history, it’s essential to evaluate the financial commitment carefully. Professor Ranjan George offers valuable insights into the key factors to consider before applying for or co-signing a personal loan, emphasizing the importance of clear communication and understanding between both parties.
Read the full article for more of Dr. Ranjan George’s helpful tips! https://go.rutgers.edu/x0vfzsbj