Our last child has graduated and registered for college. He has received very minimal scholarships and we have no savings to give him. Is it better for us financially- to cosign on a private student loan for him or take a parent loan? I did not cosign for my two older kids, one of which will be in her 4th year of college, but my elderly mother did. How will these scenarios affect our credit or for instance our ability to say refinance an auto loan or mortgage in the future? or get an auto loan in the future? We have been paying on tax debt for 6 years and it is more than half way paid off now owing approx 7000 to the fed and 2200 to state, our Closed credit accounts balances are under $3000 balance. We carry about $3000 in medical bill debt that we pay on monthly, along with a truck payment and regular monthly bills, mortgage utilities etc. I know we can just sign up for a student loan but I want some advise about the right way to do it. Should I approach my mother to cosign again? or should we go the private route and cosign or him-or parent loan? I don't have money to make a monthly payment now but I may be able to swing minimal interest payments. I know that he will be successful in his employment pursuits so he will be able to pay the loans/ or refinance when it comes time to pay back. I need to help him but I also don't want to shoot us in the foot. A little more background. My husband recently left a toxic work environment and took a job for less money. He makes 39000 now was making 44000 and I make 59000. So, next year we should have less income to report on taxes. The kids are both claimed on taxes. Next year The kids still will not qualify for financial aid. I just want to do the right thing for all of us.