A cosigner accepts equal responsibility for the repayment of a private student loan. Cosigner need not be related to the student, but many students ask a parent to cosign their applications.
If the student does not have established credit history to qualify for a private student loan on their own, a cosigner is required.
Even if the student qualifies for a private student loan on their own, the student may receive a lower interest rate by adding a cosigner.
|Cosigner Application||Cosigner Nomination|
|How this works||How this works|