I co-signed my friend's student loans a decade ago and I just found out she’s stopped paying. What are my options?

Core Insights - Co-signing a student loan can lead to long-term financial risks for individuals, as over 90% of private student loans require a co-signer, making both parties equally responsible for the debt [1] Group 1: Risks of Co-signing - Co-signers often do not fully understand the long-term obligations associated with co-signing loans, which can lead to significant financial consequences [4] - Private student loans are particularly risky for co-signers due to the lack of protections that federal loans offer, such as income-driven repayment plans and forgiveness options [4] - Lenders are generally reluctant to release co-signers from their obligations, as doing so increases their financial risk in case of borrower default [5]