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Home Ask Student Aid FAQ Is a Cosigner Required for a Private Student Loan Refinance

Is a Cosigner Required for a Private Student Loan Refinance

If you do not satisfy a lender’s credit criteria, a cosigner may be required. Recent college graduates may not have a long enough credit history or work history to qualify without a cosigner.

Even if a cosigner is not required, adding a cosigner may result in a lower interest rate. A cosigner is a co-borrower, equally obligated to repay the loan. The private refinance loan will be reported as debt on the credit history of both you and your cosigner until the loan is paid in full. So choose your cosigner wisely. Many individuals choose their spouse, if they qualify, to be their cosigner.