Parents as co-signer

We are moving due to a work transfer and our son is not able to move with us. We are co-signing his apartment for him in a more affordable city for him. Once he moves in, he will not have any money (other than start up money we will give as a gift) as he will have left his job to move to a different city because rent will be much more affordable for him in the city, once he finds a new job. I'm wondering if we co-sign for him, will that affect his OW eligibility? If my spouse is on the lease as a co-signer?

Thanks!