Cosigners for Student Loans
An investment in the future
Without an established credit history student borrowers may need a co signer to be approved for a private student loan. Learn more on how to find and ask a cosigner for student loans
Top reasons to cosign a student loan
Invest in your student's future
Obtaining a higher education degree enables graduates to be qualified for competitive high-paying jobs and make more money than non-degree professionals.
Help your student build credit
Making loan repayments on time is an excellent way for the student to establish and demonstrate a good credit history.
Help your student complete their education
Some students may have difficulty finding the funds to complete their education.By cosigning a student loan you are ensuring the student has the financial means necessary to graduate.
Cosigner early release option
After meeting qualifications including a credit check and 24 months of on-time payments, the student borrower may apply to have their cosigner released from the loan.
What to do before cosigning a student loan
Make sure the student has exhausted all forms of federal financial aid.
This is the very best option for student loans with the lowest rates and terms and does not require a cosigner.
Has the student applied for scholarships and grants?
A wide variety of opportunities are available to explore, so offer to help your student research and complete scholarship and grant applications.
Consider borrowing only the necessary amount.
Private student loans are a great tool to cover necessary school expenses. Check with your school’s financial aid office.
Things to consider when cosigning a loan.
Cosigners have equal responsibility for repaying the loan.
Cosigning a loan will raise your debt-to-income ratio.
This loan will reflect on your personal credit report.