Co-signer on a Loan

Introduction

Co-signer on a Loan 

Question

Do I have to have a co-signer for my student loan? 

Answer

Private Loans

• Private loans usually require a credit check and a low income-to-debt ratio.
• Students with little to no credit history often need a co-signer for private loans. It will be the decision of the lender if a co-signer is needed.  

Federal Loans

• The federal Direct Loan is a guaranteed student loan and does not require a co-signer.  
• The federal PLUS Loan requires a credit check but not a co-signer. Federal PLUS Loans may be available as a Parent PLUS Loan for dependent students or as a PLUS Loan for graduate/professional students 

Submit a request for help