Which of the following best describes a primary responsibility of a co-signer?

The role of a co-signer primarily involves sharing the liability for the loan if the primary borrower defaults. When an individual co-signs a loan, they are essentially agreeing to take responsibility for the debt alongside the primary borrower. This is crucial for lenders, as it provides an additional layer of security. If the borrower fails to make payments, the lender can pursue the co-signer for repayment, which helps mitigate the risk associated with lending to individuals who may have insufficient credit history or lower credit scores.

In this scenario, the co-signer's responsibility is not to manage the loan payments alone, negotiate terms with the lender, or provide additional collateral. Instead, their main function is to act as a guarantor, which is particularly important in making loans available to those who might not qualify on their own. This relationship can enhance the borrower's creditworthiness, as lenders view the co-signer's willingness to back the loan as a significant assurance of payment confidence.