I have not ever heard of someone co-signing on a loan after it has already been disbursed. What exactly does that accomplish? Normally a co-signer is required to get a loan in the first place if someone has no credit or poor credit, as the co-signer is the insurance the loan will be paid off.

So aside from the person who has the loan screwing someone else over, why would this even be an option?

Edit - Forgot to say the important part, don't co-sign. If you want to help him out at times, help make a payment or part of a payment here or there. DO NOT put yourself at financial risk by accepting legal responsibility of the loan.
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My brother wants me to co-sign his $100K student loan.

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