Final answer:
A parent must co-sign your loan application when the bank requires additional reassurance of repayment. The co-signer legally pledges to repay the loan if the original borrower fails to do so. This is common for students applying for loans with insufficient credit history or income.
Step-by-step explanation:
A parent must co-sign your application for a loan when the bank requires additional reassurance of repayment. A co-signer is another individual, such as a parent, who legally pledges to repay the loan if the original borrower fails to do so. This is common for students applying for loans, as they may not have enough credit history or income to qualify on their own. The co-signer provides the bank with confidence that the loan will be repaid.