Student Loans Cosigner

Answers to commonly asked questions :

1. How do I know if I really need a student loan co-signer?

   A creditworthy applicant can qualify without a cosigner. A creditworthy applicant is one who meets the following criteria:

   • Minimum 2 years of continuous employment (Note: a current pay stub or a letter from your employer will be required to verify current income).
   • U.S. citizen or permanent resident, who has resided in the U.S. for the previous two years.
   • Minimum 21 months of good credit history.
2. Do most applicants have a co-signer?

   In many instances, applicants who are not creditworthy do obtain a co-signer.

3. Will having a co-signer help?

   If you are a creditworthy student loan applicant and meet the criteria above, there is no benefit to applying with a co-signer. If, however, you do not meet the above criteria, a co-signer could increase your chances for approval.

4. Does having a co-signer ever hurt my chances?

   No. Unlike other student loans and grants you may be more familiar with, you won't be turned down because a parent or another co-signer "has too much money."