Parents aren’t infallible. Of course you know that when you’re old enough to go to college but many kids don’t truly think about this reality when they ask their parents to cosign for their student loans. The sad truth is that parents, just like anybody else, can lose their job or become seriously ill. And in that case, the last thing you want is for them to be responsible for your unpaid student debts. The morale is, if you get your parents to cosign a loan, make sure you know that you can pay them yourself or that your parents can, even in a worst case scenario. If not, it could be a good idea to look at student loans without a cosigner. They do exist, even if it can be more difficult to get one.