<prompt> Human: Im posting for a friend who doesnt know how to use reddit. She friend, well call her Ashley has a younger sister well call her Kim who was accepted into a local private read: expensive college and didnt get much in the way of grants. The only way she is able to attend is by taking out 30k a year in student loans, which need co-signed. Their parents are currently filing bankruptcy so they cannot co-sign, and when Ashley was over there yesterday they asked her to see if she could try to get approved as a co-signer for the first loan of 30k. It sounds like it was a really emotional panicky day, and Ashley assumed she wouldnt be approved anyway kind of like assuming you wont be a match for a kidney donation so she went ahead and filled out the paperwork for the sallie mae loan and unfortunately got approved. She didnt realize the full extent of what she was doing - her mom told her it wouldnt affect her and she took that at face value. However, this is obviously not true and is going to cause her problems if she isnt able to undo this.Kim is going to school to be a nurse, and in my opinion she doesnt need to go to this fancy school to succeed. We have an awesome local community college that seamlessly transfers to an awesome state school that is known for its medical department. She could attend the community college for 2 years and transfer to the state school graduating from this state school is a big deal, people come from all over the world to attend. My other huge concern is that even if Kim insists on going to the private school I dont see any way for her to financially continue going after the 1st year. Ashley was basically the last resort co-signer and will not and probably cannot co-sign next years loan, and theres no one else to do it. So if Kim uses up all of this funding on her first year she and her sister will be 30k in the hole with no degree to show for it.So anyway, enough about how this is a bad idea. Ashley has realized how serious this is and she wants to undo it. The loan has been processed but classes have not started. Assuming she can get Kim on board to help her undo this what are her next steps? Is this something that they can reverse?  <response>: Ashleys mom lied to her about how co-signing wouldnt affect her, so to me that should be the end of her efforts to help, right there. Kim the student has to agree to take on the loan obligation solo, and the lender would have to agree also. It sounds like with Kims nonexistent credit profile this isnt going to happen.Kim would have to agree to withdraw from this college and shut all the enrollment stuff down. If Kim insists on forging ahead with freshman year, despite not having any idea how to finance sophomore year and beyond, Ashley is sunk. Likewise, if Kim doesnt like this college and withdraws at Christmastime or something, Ashley is on the hook personally and directly for the cost of fall term.With these kids parents in bankruptcy it does not sound like the family has a very responsible or positive financial culture. Ashley has made one big error here and should take steps to firewall herself from future mistakes, which unfortunately means leaving Kim to sort out higher ed financing with her parents or, more likely, alone. 