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Sallie Mae Cosigner Release Form PDF

Sallie Mae Cosigner Release Form PDF

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Instructions and help about Sallie Mae Cosigner Release Form Pdf

What's the cosigner and how might a cosigner help when you apply for a private student loan? We get those questions a lot. Here's what you need to know. Generally a cosigner can be a guardian, spouse, relative or any credit worthy adult with the ability to help repay a loan. They share responsibility for the loan with you and they're willing to help make payments. Usually a cosigner is a parent but other relatives and even friends can be co-signers. We find that almost thirty percent of Smart Option Student Loan cosigners are someone other than the borrower's parent. The reason many college bound students apply with a cosigner is because they typically haven't had enough time to build up credit history of their own and without it getting a private student loan can be difficult. So having a cosigner can help you get approved for a private student loan, which helps you start to establish your own credit history. With certain lenders, you can apply to have your co-signer released from you

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