Jeremy is an 18 year old college student with no prior credit history, who still lives at home. He will have a part-time job while he is attending college and has applied for a car loan. In these circumstances, the bank's loan officer will most likely approve the loan if Jeremy can :

A. sign over his parent's car as collateral.
B. provide a cosigner on the loan.
C. increase his student loan.
D. maintain a "B" grade average.

B. provide a cosigner on the loan.

Explanation:

Jeremy is an 18 year old college student with no prior credit history, who still lives at home. He will have a part-time job while he is attending college and has applied for a car loan. In these circumstances, the bank's loan officer will most likely approve the loan if Jeremy can provide a cosigner on the loan.

Cosigner is someone who applies for loan with another person and legally agree to pay off their debt if they aren't able to repay the loan, cosigner helps another person qualify for a loan that they might not otherwise be able to get as in the case of Jeremy who needs to provide a cosigner because he had no prior credit history and it is too much of a gamble for the loan officer to play in granting an individual with not solid history of employment. Cosigner on the loan mean if Jeremy is default on his loan payment the individual who cosigned on the loan will pledge to pay back the loan.

answer; decentralized;