How to Remove a Co-Signer From a Student Loan

by Contributor

Once you have established yourself and are in a financial position to pay your student loans independently, it is possible to take a co-signer off your current loan. This will improve your credit score and make the co-signer happy. Follow these steps to remove a co-signer from a student loan once you become eligible to sign yourself.

Make sure you have been paying your loan on time. The only way you are going to be able to get out of having a co-signer is if you have been paying that particular student loan on time for an extended period of time.

There are two ways to remove a co-signer: you can refinance the loan or contact your lender.

Refinancing is the process of getting a new loan at a lower interest rate to pay off the original loan. Loans can be refinanced with the original lender, or you can get a loan from another lending institution which may offer better rates and terms.

Another way to get rid of a co-signer is to contact your lending institution and request the co-signer be taken off. The lender will run your credit, and if it is sufficient, you will be able to take on your loan individually.

Video of the Day

Brought to you by

Cite this Article | A tool to create a citation to reference this article Cite this Article

Related pages

co signer on bank accountw2 sdidebit card refund cashprepaid visa teensblackbook value of carshealth insurance that covers tummy tucksaving bond serial numberscholarships for black maleswage garnishment illinoisforbearance letterdonate furniture portlandirs form 1042sebt application nclas vegas section 8 waiting listwashington dc tax assessorcalculating ordinary annuityrelationship between trustee and beneficiarycalculating ytd incomeirs 1040 easy formpmi loan annual compoundingcancel aaa auto insurancefit to be untied tubal reversalusaa scholarshipsmoneypak at walmartget rid of tax debtis alimony based on gross or net incomeformula for calculating tax rateinterpreting a balance sheetschedule b taxable intereststatute of limitations petty theftcomdata debit cardcredit cards cosigneractivate my santander credit cardwhat is tax topic 203minimum credit score for apartmentfind a cosigner for a cartransfer on death deed mnwells fargo wire services401k loan terminated employeecredit suisse gold bars wikilemon law ny new carteachers pension plan calculatorwhat is the difference between qualifying for loans and grantsdefine oasdihow to know my credit card is activatedassumable mortgagesapply for unemployment in tennesseepenalty for unreported incomehow long are employers required to keep w2how to dispute a late payment on credit reportfederal disability retirement calculatordeposit slips definitionwhy does supply curve slope upwardarmy loan repayment programphysician dea number lookup freehow to find apy compounded continuouslypenny stocks on the risecsc debit cardself directed profit sharing planconverting annual salary to hourly ratew2 number of exemptionspaying estimated taxes latesportbike drag racingstudent loan divorcerefrigerator donationhazard insurance and homeowners insurancerecapture tax calculatorcovered call options calculatoryetsowells fargo gift card registration401k primary beneficiaryequifax vs transunionwww compass ga gov food stamp renewalindividual deductible and family deductible