Applying with a creditworthy cosigner may help you qualify and/or receive a lower interest rate. Plus, after graduation a borrower may apply for their cosigner to be released from the loan once they have made 12 consecutive, on-time principal and interest payments and meet certain credit require...
A cosigner can also help you get approved.4 A cosigner is a person who signs an application with you. They should have better credit than you and plenty of income available to pay off the loan. Ideally, they’ll never make a payment—it’s your loan—but this person is responsible ...
some give loans to borrowers without a cosigner if they meet certain requirements. Even if you have to initially apply for a private student loan with a cosigner, most lenders give you the option to release orbeat a cosignerafter
So if your goal is to establish good credit quickly, pick someone who has been responsible with credit and is likely to continue that behavior in the future.Another strategy to start a credit history is to get someone with good credit to cosign a loan with you. The cosigner is taking a...
4 A cosigner is a person who signs an application with you. They should have better credit than you and plenty of income available to pay off the loan. Ideally, they’ll never make a payment—it’s your loan—but this person is responsible for the loan if you stop making payments....