Refinance Student Loans With a Cosigner in 3 Steps

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A cosigner is generally a trusted relative or friend with good credit who is willing to apply for a loan with you.

If you refinance student loans with a cosigner, you’ll have a better chance of getting approved — and might also qualify for a lower interest rate.

Follow these three steps to refinance student loans with a cosigner:

1. Compare rates from different lenders who allow cosigners
2. Find a cosigner
3. Apply with your selected student loan refinance lender

1. Compare rates from different lenders who allow cosigners

Many lenders allow you to refinance student loans with a cosigner. You can refinance both private and federal student loans — though keep in mind that if you refinance federal student loans, you’ll lose access to federal benefits and protections, such as access to income-driven repayment plans and student loan forgiveness programs.

Before you refinance, it’s important to compare your rates and loan terms from as many lenders as possible to find the right loan for you.

For example, maybe one lender will get you a lower interest rate while another will let you extend your repayment term to lower your student loan payments.

Here are Credible’s partner lenders that will let you refinance your student loans with a cosigner:

Lender	Fixed rates from (APR)	Variable rates from (APR)	Loan terms (years)	Loan amounts	Min. credit score
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	4.4%+	4.54%+	5, 7, 10, 15, 20	$10,000 up to $250,000 (depending on degree)	690
Fixed APR: 4.4%+ Variable APR: 4.54%+ Min. credit score: 690 Loan amount: $10,000 to $400,000 Loan terms (years): 5, 7, 10, 15, 20 Repayment options: Military deferment, forbearance Fees: Late fee Discounts: Autopay Eligibility: Must have a credit score of at least 720, a minimum income of $60,000, and must be a resident of Texas Customer service: Email, phone Soft credit check: Does not disclose Cosigner release: No Loan servicer: Firstmark Services Max. Undergraduate Loan Balance: $100,000 - $149,000 Max. Graduate Loan Balance: $200,000 - $400,000 Offers Parent PLUS Refinancing: Does not disclose
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	5.39%+1	5.39%+1	5, 7, 10, 15, 20	$10,000 to $500,000 (depending on degree and loan type)	Does not disclose
Fixed APR: 5.39%+1 Variable APR: 5.39%+1 Min. credit score: Does not disclose Loan amount: $10,000 to $750,000 Loan terms (years): 5, 7, 10, 15, 20 Repayment options: Immediate repayment, academic deferment, military deferment, forbearance, loans discharged upon death or disability Fees: Late fee Discounts: Autopay, loyalty Eligibility: Must be a U.S. citizen or permanent resident and have at least $10,000 in student loans Customer service: Email, phone, chat Soft credit check: Yes Cosigner release: After 24 to 36 months Loan servicer: Firstmark Services Max. Undergraduate Loan Balance: $100,000 to $149,000 Max. Graduate Loan Balance: Less than $150,000 Offers Parent PLUS Refinancing: Yes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	5.24%+2	5.24%+2	5, 7, 10, 12, 15, 20	$5,000 to $300,000 (depending on degree type)	Does not disclose
Fixed APR: 5.24%+2 Variable APR: 5.24%+2 Min. credit score: Does not disclose Loan amount: $5,000 to $300,000 Loan terms (years): 5, 7, 10, 12, 15 Repayment options: Military deferment, forbearance, loans discharged upon death or disability Fees: Late fee Discounts: Autopay Eligibility: All states except for ME Customer service: Email, phone, chat Soft credit check: Yes Cosigner release: After 24 to 36 months Loan servicer: College Ave Servicing LLC Max. Undergraduate Loan Balance: $100,000 to $149,000 Max. Graduate Loan Balance: Less than $300,000 Offers Parent PLUS Refinancing: Yes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	7.41%+5	7.29%+5	5, 10, 15, 20	$1,000 to $250,000	700
Fixed APR: 7.41%+5 Variable APR: 7.29%+5 Min. credit score: 700 Loan amount: $7,500 to $200,000 Loan terms (years): 5, 10, 15, 20 Repayment options: Immediate repayment, academic deferment, forbearance, loans discharged upon death or disability Fees: None Discounts: Autopay Eligibility: Must be a U.S. citizen or permanent resident and submit two personal references Customer service: Email, phone Soft credit check: Yes Cosigner release: After 36 months Loan servicer: Granite State Management & Resources (GSM&R) Max. Undergraduate Loan Balance: $150,000 to $249,000 Max. Graduate Loan Balance: $150,000 to $199,000 Offers Parent PLUS Refinancing : Yes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	4.83%+3	3.99%+3	5, 7, 10, 12, 15, 20	$10,000 to $250,000	680
Fixed APR: 4.83%+3 Variable APR: 3.99%+3 Min. credit score: 680 Loan amount: $10,000 to $250,000 Loan terms (years): 5, 7, 10, 12, 15, 20 Repayment options: Forbearance Fees: None Discounts: None Eligibility: Must be a U.S. citizen or permanent resident, have at least $15,000 in student loan debt, and have a bachelor’s degree or higher from an approved school Customer service: Email, phone Soft credit check: Yes Cosigner release: No Loan servicer: Mohela Max. Undergraduate Loan Balance: $250,000 Max. Graduate Loan Balance: $250,000 Offers Parent PLUS Refinancing: Yes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	5.61%+4	6.61%+4	5, 10, 15, 20	$5,000 to $250,000	670
Fixed APR: 5.61%+4 Variable APR: 6.61%+4 Min. credit score: 670 Loan amount: $5,000 to $250,000 Loan terms (years): 5, 10, 15, 20 Repayment options: Academic deferment, military deferment, forbearance Fees: Late fee Discounts: Autopay Eligibility: Must be U.S. citizen or permanent resident Customer service: Email, phone, chat Soft credit check: Yes Cosigner release: Yes Max undergraduate loan balance: $250,000 Max graduate loan balance: $250,000 Offers Parent PLUS refinancing: Yes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	6.94%+ 7	N/A	5, 7, 10, 12, 15, 20	Up to $300,000	670
Fixed APR: 6.94%+ 7 Variable APR: N/A Min. credit score: 670 Loan amount: Up to $300,000 Loan terms (years): 5, 7, 10, 15, 20 Time to fund: Usually one business day Repayment options: Academic deferral, military deferral, forbearance, death/disability discharge Fees: None Discounts: Autopay Eligibility: Available in all 50 states Customer service: Email, phone Soft credit check: Yes Cosigner release: After 24 months Max. undergraduate loan balance: $300,000 Max. graduate balance: $300,000 Offers Parent PLUS loans: Yes Min. income: None
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	4.49%+	4.38%+	5, 7, 10, 15	Up to $300,000	700
Fixed APR: 4.49%+ Variable APR: 4.38%+ Min. credit score: 700 Loan amount: $5,000 to $300,000 Loan terms (years): 5, 7, 10, 15 Max. undergraduate Loan Balance: $125,000 Time to Fund: 10 to 30 days Repayment options: Immediate repayment, forbearance Fees: Late fee Discounts: Autopay Eligibility: Must be a U.S. citizen or permanent resident and have already graduated with at least an associate degree from an eligible institution Customer service: Email, phone Soft credit check: Yes Cosigner release: After 12 months Loan servicer: LendKey Technologies Inc. Max. graduate Loan Balance: $175,000 Credible Review: LendKey Student Loans review Offers Parent PLUS Refinancing: No
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	5.1%+	N/A	7, 10, 15	$10,000 up to the total amount of qualified education debt	670
Fixed APR: 5.1%+ Variable APR: N/A Min. credit score: 670 Loan amount: $10,000 up to the total amount Loan terms (years): 7, 10, 15 Repayment options: Military deferment, loans discharged upon death or disability Fees: None Discounts: None Eligibility: Must be a U.S. citizen or permanent resident and have at least $10,000 in student loans Customer service: Email, phone Soft credit check: Yes Cosigner release: No Loan servicer: AES Max. Undergraduate Loan Balance: No maximum Max. Gradaute Loan Balance: No maximum Offers Parent PLUS Refinancing: Yes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	5.49%+	N/A	5, 8, 12, 15	$7,500 to $300,000	670
Fixed APR: 5.49%+ Variable APR: N/A Min. credit score: 670 Loan amount: $7,500 to $300,000 Loan terms (years): 5, 8, 12, 15 Repayment options: Does not disclose Fees: None Discounts: None Eligibility: Must be a U.S. citizen and have and at least $7,500 in student loans Customer service: Email, phone, chat Soft credit check: Yes Cosigner release: After 12 months Loan servicer: PenFed Max. Undergraduate Loan Balance: $300,000 Max. Graduate Loan Balance: $300,000 Offers Parent PLUS Refinancing: Yes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	5.29%+	N/A	5, 10, 15	$7,500 up to $250,000 (depending on highest degree earned)	680
Fixed APR: 5.29%+ Variable APR: N/A Min. credit score: 680 Loan amount: $7,500 to $250,000 Loan terms (years): 5, 10, 15 Repayment options: Academic deferment, military deferment, forbearance, loans discharged upon death or disability Fees: None Discounts: Autopay Eligibility: Available in all 50 states; must also have at least $7,500 in student loans and a minimum income of $40,000 Customer service: Email, phone Soft credit check: Does not disclose Cosigner release: No Loan servicer: Rhode Island Student Loan Authority Max. Undergraduate Loan Balance: $150,000 - $249,000 Max. Graduate Loan Balance: $200,000 - $249,000 Offers Parent PLUS Refinancing: Yes
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All APRs reflect autopay and loyalty discounts where available | 1Citizens Disclosures | 2College Ave Disclosures | 5EDvestinU Disclosures | 3 ELFI Disclosures | 4INvestEd Disclosures | 7ISL Education Lending Disclosures

Brazos

If you’re a resident of Texas, you might be able to refinance $10,000 up to $250,000 with Brazos. Keep in mind that Brazos doesn’t offer cosigner release.

Citizens

Unlike some other refinancing lenders, you don’t need to have finished your degree to refinance with Citizens.

Plus, if you already have an account with Citizens, you could qualify for a 0.25% loyalty discount — and another 0.25% off your rate if you sign up for autopay. You can apply for cosigner release after 36 months of on-time, consecutive payments.

College Ave

With College Ave, you can choose from 16 loan terms ranging from five to 20 years, giving you more repayment flexibility.

You can refinance $5,000 to $300,000 with a cosigner through College Ave — though keep in mind that College Ave doesn’t offer cosigner release.

ELFI

Education Loan Finance (ELFI) offers refinancing starting at $15,000 with no set maximum, which could make it a good choice if you have a particularly large student loan balance.

Just keep in mind that ELFI doesn’t offer cosigner release, so if you refinance a large balance with a cosigner, they’ll be in it for the long haul.

INvestEd

INvestED offers up to 24 months of forbearance over the life of refinanced loans (for one to three months per forbearance period), which could make it a good choice if you face financial difficulties down the road.

You can refinance $5,000 to $250,000 with INvestEd and can apply for cosigner release after 48 months of consecutive, on-time payments.

ISL Education Lending

ISL Education Lending offers a variety of refinancing options, including the ability to refinance while you’re still in school. You can refinance $5,000 to $300,000 — though keep in mind that different limits apply to borrowers who are still in school as well as California residents.

Cosigner release applications are accepted after 24 months of consecutive, on-time payments.

MEFA

MEFA is another lender that offers student loan refinancing to borrowers who didn’t finish their degrees.

You can refinance $10,000 up to the total amount of your qualified education debt with MEFA — though keep in mind that MEFA doesn’t offer cosigner release.

PenFed

With PenFed, you can refinance $7,500 to $300,000 and can apply for cosigner release after just 12 months of on-time consecutive payments. PenFed is also the only lender that allows spouses to consolidate their student loans together.

RISLA

Most refinancing lenders only offer temporary forbearance options in cases of financial hardship. However, if you refinance with RISLA, you can sign up for an Income-Based Repayment (IBR) plan.

Similar to some of the federal income-based repayment options, RISLA’s IBR plan caps your payments at 15% of your discretionary income and offers loan forgiveness after 25 years. Keep in mind that RISLA doesn’t offer cosigner release.

Learn More: When to Refinance Student Loans

2. Find a cosigner

Asking someone to cosign on your loan isn’t a small thing: If you default on the loan, your cosigner will be responsible and their credit could be damaged.

Be sure to carefully consider whether you’ll be able to honor your loan obligation, as you could burn a bridge with your cosigner if you fail to manage the loan.

Also, keep in mind that some lenders also offer cosigner release, which means you can apply to have your cosigner removed from the loan after making on-time payments for a certain amount of time.

Check Out: How Often Can You Refinance Student Loans?

What makes a good cosigner?

Here’s what to look for in a good cosigner:

• Has good credit
• Has a low debt-to-income ratio
• Is easy to contact in situations where you need to discuss the loan
• Has a high enough income to make loan payments in case you can’t

Learn More: Private Student Loan Consolidation

3. Apply with your selected student loan refinance lender

After comparing lenders and getting permission from your cosigner, you’ll need to fill out a full application to apply for refinancing. Be sure to gather any documentation you might need, such as student loan information and pay stubs.

Your cosigner might also need to provide financial documents and answer application questions.

Refinancing your student loans might get you a lower interest rate, which could help you save money over the life of your loan.

Keep in mind that even if you don’t need a cosigner to get approved, having one could qualify you for a lower rate than you’d get on your own.

You can use our calculator below to see how much you can save by refinancing your student loans.

Check Out: What To Do If You Were Denied Student Loan Refinancing

What are the benefits of having a cosigner on a student loan?

There are several benefits to having a cosigner on your student loan. Two major perks include:

• You’re more likely to be approved for refinancing. This could be especially helpful if you’re looking to refinance student loans with bad credit.
• You might get a lower interest rate. This could save you a lot of money over the life of your loan and maybe help you pay off your loan faster. Even if you don’t need a cosigner to qualify, having one could qualify you for a lower rate than you’d get on your own.

If you decide to refinance your student loans (with or without a cosigner), remember to consider as many lenders as you can to find the right loan for you. Credible makes this easy — you can compare your prequalified rates from multiple lenders in two minutes.

Keep Reading: Standard Repayment Plan

About the author

Lindsay VanSomeren

Lindsay VanSomeren specializes in credit and loans. Her work has appeared on Credit Karma, Forbes Advisor, LendingTree, and more.

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