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Taking out a loan in a child's name without their knowledge or consent is illegal and considered identity theft or fraud. Parents should never use their child's personal information, such as Social Security number or other identifying details, to apply for loans or credit cards.

When a child turns 18 (or reaches the legal age of majority in their country), they can legally apply for loans and credit in their own name. At that point, if a parent co-signs or helps the child with the loan application, it becomes a joint responsibility.

Parents are responsible for protecting their child's personal information and should not engage in any activities that could harm their child's financial well-being. Instead, parents can focus on teaching their children about responsible financial management, saving, and budgeting, so they can build a strong foundation for their financial future.

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