Countersign for a friend's OU student finance

RachA

Hi, just looking for some advice. A friend has asked me to counter sign an application for their student finance for an Open University course. Someone else had signed but the application was rejected. They haven't given me much in the way of detail, other than my job role fits the requirements. I'm looking to buy my first house so I'm quite concious of my credit score and being careful at the moment. I was wondering if anyone had any information about if this could affect my credit score? Is it like being a guarantor or purely a character reference type thing? Of course I value my friend, but he has a history of debt and is currently unemployed. My fear is signing something and risking my own credit score being affected if repayments aren't made. Hope I've explained myself clearly thank you.

[Deleted User]

Your credit score isn't real so won't be affected, but if it means being a guarantor, don't do it.

Read the contract carefully. Any missed payments and they will come to you.

forgotmyname

Give them the money and cross your fingers they pay you back. You may have less to lose as you wont be paying interest on top.

No its not a reference. If they dont want to pay you will pay.

Socajam

Don't do it, failure to pay means that you will be liable.
I had someone I trust did that to me, now not even my dead mother I would sign for

molerat

As long as it is purely the SFE / SFNI / SFW Identity Confirmation Form from the Birth / Adoption certificate form there will be no effect on your credit file and you will not be chased for payments.

CakeCrusader

You could do with asking your friend more about this. If it's to countersign their ID then you shouldn't be expected to pay their fees if they don't, all you're doing is confirming that they are who they say they are. The person who previously signed it may have been rejected as they don't know them for long enough. Find out more about this before you say no.

Ben8282

RachA wrote: »

Is it like being a guarantor or purely a character reference type thing?

You tell us. We can't tell you.

Robin9

Are there any other recent OU students on the forum who could explain what is being asked of RachA ?

It's many years since I did my OU but I can't recall any guarantees, sponsors, ID's ...............

boo_star

Robin9 wrote: »

Are there any other recent OU students on the forum who could explain what is being asked of RachA ?

It's many years since I did my OU but I can't recall any guarantees, sponsors, ID's ...............

I think a countersignature for student finance is the same as doing it for a Passport etc, i.e. you're proving identity, not being a guarantor.

OP should read the wording carefully though...

Ebe_Scrooge

boo_star wrote: »

I think a countersignature for student finance is the same as doing it for a Passport etc, i.e. you're proving identity, not being a guarantor.

OP should read the wording carefully though...

This is correct. Student Finance don't "do" guarantor loans, it'll be for identity verification - just like for a passport application, as you say.

sleepyjones

You can ask your, well their doctor to sign it, there may be a small fee.

I'm guessing your friend doesn't have a valid passport?

Is it this form?
Take a look on Page 3, see if you even meet the requirements for countersigning.