4 (ch6-7) i 00:58:49 If you cosign a loan: Multiple Choice you are only responsible for half of the debt obligation. Saved you will be asked, but not required, to pay the loan in full if the borrower fails to pay. you will be required to pay the loan in full if the borrower does not pay. the creditor must first try to collect from the borrower. the creditor is prohibited from garnishing your wages if you refuse to pay the loan in full.