Students seeking a private student loan often rely on cosigners to secure funding. During the 2023-24 school year, more than 90% of private student loans for undergraduates were cosigned, according to Enterval Analytics' Private Student Loan Report.
Although cosigning a student loan represents a significant financial commitment for the cosigner, it could make securing a student loan possible for borrowers with limited credit. This guide explores the best lenders that allow cosigners, how to get a student loan with a cosigner, and cosigner release for student loans.
Ascent is the best private student loan lender overall, based on its competitive interest rates and unique borrower benefits like longer grace periods, earning it 4.9 out of 5 stars.
Current private student loan rates
Best private student loans with a cosigner in 2025
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We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.
Abe: Best for Payment Relief Options
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
660
Fixed APR
-
Variable APR
-
Loan Amount
$1,000 to $99,999 annually $180,000 aggregate limit)
Term
5, 7, 10, 15, 20
Expert Insights
Few private lenders match the borrower protections Abe offers. You'll find options like in-school default protection, extended grace periods, and multiple types of forbearance — including for job loss and illness. These features make Abe an especially good fit for students who want a safety net during unpredictable times.
Advertiser Disclosure
We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.
Ascent: Best for No-Cosigner Loans
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
Does not disclose
Fixed APR
2.89 - 14.93%
Variable APR
4.34 - 15.00%
Loan Amount
$2,001 to $400,000
Term
5, 7, 10, 12, 15, 20
Expert Insights
Ascent stands out for offering private student loans to students without a cosigner and who have limited credit. Its outcomes-based loan uses factors such as academic performance and graduation timeline instead of credit to determine eligibility. Students can also qualify for a cash-back graduation reward and choose from a wide range of repayment plans.
Advertiser Disclosure
We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.
Citizens: Best for Multiyear Approval
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
640
Fixed APR
3.24 - 14.99%
Variable APR
4.99 - 15.47%
Loan Amount
$1,000 to $400,000 (depending on degree)
Term
5, 10, 15
Expert Insights
Citizens could be a great fit for borrowers who already bank with the lender and want to save more on their student loans. Customers can lower their interest rate by 0.25 percentage points with a loyalty discount, and by another 0.25 percentage points for enrolling in autopay. Citizens also offers multiyear approval, making it easier to get additional loans without repeated hard credit checks.
Advertiser Disclosure
We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.
College Ave: Best for Extended Grace Periods
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
Does not disclose
Fixed APR
2.89 - 17.99%
Variable APR
4.24 - 17.99%
Loan Amount
$1,000 up to 100% of the school-certified cost of attendance
Term
5, 8, 10, 15 (20 for health professionals)
Expert Insights
College Ave offers a wide range of borrower-controlled features that makes it especially compelling for those who want predictability and planning power with their student loans. From 5 to 20-year terms and multiple in-school payment options to profession-specific grace periods, College Ave offers more structure and flexibility than many of its competitors.
Advertiser Disclosure
We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.
Custom Choice: Best for Discounts and Rewards
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
Does not disclose
Fixed APR
3.24 - 15.71%
Variable APR
4.19 - 16.39%
Loan Amount
$1,000 to $99,999 annually $180,000 aggregate limit)
Term
7, 10, 15
Expert Insights
Custom Choice offers a compelling combination of rate discounts, graduation rewards, and zero fees. You can reduce your interest rate by 0.25 percentage points with autopay and earn a 2% principal reduction after graduating. With no fees, cosigner release after 36 payments, and hardship forbearance, it's a good option for students seeking both savings and support.
Advertiser Disclosure
We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.
ELFI: Best for flexible repayment
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
680
Fixed APR
2.99 - 14.22%
Variable APR
5.00 - 13.97%
Loan Amount
$1,000 up to cost of attendance
Term
5, 7, 10, 15
Expert Insights
ELFI stands out for offering a broad range of repayment terms — 5, 7, 10, or 15 years — so you can tailor your loan to fit your budget and timeline. Whether you want to pay off your loan quickly or stretch payments over time, ELFI gives you the tools to choose. This flexibility makes it a strong option if you're seeking maximum control over your repayment plan.
Advertiser Disclosure
We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.
INvested: Best for Indiana Students
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
670
Fixed APR
4.59 - 8.59%
Variable APR
6.74 - 10.79%
Loan Amount
$1,001 up to 100% of school certified cost of attendance
Term
5, 10, 15
Expert Insights
INvestEd offers unique value for Indiana students, with eligibility limited to state residents or those attending school in the state. This includes competitive interest rates, cosigner release after just 12 on-time payments, and generous forbearance and deferment options. As a nonprofit, INvestEd combines affordability with a strong commitment to local borrowers.
Advertiser Disclosure
We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.
MEFA: Best for Borrowers With Good Credit
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
670
Fixed APR
3.29 - 8.89%
Variable APR
-
Loan Amount
$1,500 up to school’s certified cost of attendance less aid
Term
10, 15
Expert Insights
MEFA is best for borrowers with strong credit who want stable, low-cost college financing without the extras. It offers low, fixed-interest rates and zero fees. But there are no variable rates, autopay discounts, or short-term repayment options. If you meet its credit standards, MEFA's nonprofit model makes it a reliable, no-frills alternative to traditional private lenders.
Advertiser Disclosure
We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.
Nelnet Bank: Best for Competitive Rates
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
Mid to high 600’s FICO
Fixed APR
-
Variable APR
-
Loan Amount
$1,000 to $500,000
Term
5, 10, 15
Expert Insights
Nelnet Bank stands out among private student loan lenders for offering low starting rates and high loan limits across undergraduate, graduate, and health professional programs. You can qualify for a Nelnet Bank student loan with mid-600s credit or apply with a cosigner to improve your chances of approval and secure a better rate.
Advertiser Disclosure
We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.
Sallie Mae: Best for Specialized Loans
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
Does not disclose
Fixed APR
2.89 - 17.49%
Variable APR
4.37 - 16.99%
Loan Amount
$1,000 up to 100% of school-certified cost of attendance
Term
10 - 20
Expert Insights
Sallie Mae stands out from the competition with one of the broadest selections of specialized private student loans on the market. Loans cover everything from undergraduate degrees to medical residencies, bar study, flight training, and trade schools. This makes Sallie Mae a good option for students pursuing specialized or less traditional educational paths.
Advertiser Disclosure
We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.
SoFi: Best for Member Perks
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
Does not disclose
Fixed APR
-
Variable APR
-
Loan Amount
$1,000 to $100,000
Term
5, 7, 10, 15
Expert Insights
SoFi offers borrower-friendly benefits rarely seen among student loan lenders. Perks include cash back for strong grades, a loyalty discount on future loans, and cosigner release after just 12 months. With flexible terms and competitive rates, SoFi is a standout option for students seeking long-term value.
Why you can trust our Credible experts
The Credible editorial team is independent and unbiased. Partners do not influence our editorial content. To help you find the best student loan for your situation, we conduct thorough research and analyze thousands of lender data points. Using data-driven methodologies, we score criteria that are important to you. This allows us to objectively rank student loan lenders and products. To learn more, read our methodology below.
Methodology
To determine the best student loan lenders for borrowers with a cosigner, Credible collected more than 1,000 points of data on two dozen companies and evaluated them on several different categories: repayment options, eligibility, interest rates, loan terms, and customer support. We assigned a score out of five stars to each lender based on our findings. Below are the weightings assigned to the general categories for the best student loan companies — which comprise individual criteria that are also weighted.
- Repayment options: 30%
- Eligibility: 25%
- Interest rates: 20%
- Loan terms: 15%
- Customer support: 10%
While the best lender for you will depend on your unique needs and financial circumstances, these findings should help answer your questions and assist you in your search for the best student loan.
Learn more about our methodology.
Why apply for a student loan with a cosigner?
“Many college students do not have the credit history or income to borrow a private student loan on their own,” says Dan Kennedy, chief marketing officer at College Ave.
“Adding a cosigner, like a parent or guardian, with a strong credit score and history can help the student qualify for the loan and receive a lower interest rate,” Kennedy explains.
While it's possible to get approved for a private student loan without a cosigner through some lenders, student borrowers with lower incomes and limited credit histories will typically face higher interest rates and may not be able to borrow as much money.
“I recommend having in-depth conversations with potential cosigners well before you're ready to apply for a private student loan. It gives you both plenty of time to go over your financial situation and set clear expectations without the pressure of a deadline.”
— Richard Richtmyer, Senior Student Loans Editor, Credible
What to look for in a cosigned student loan
If you're pursuing a cosigned student loan, shopping around can help you find the best option for your specific needs. A few factors to consider include:
- Competitive interest rates: You'll likely find fixed and variable interest rate options. The predictability of a fixed-rate loan is generally a good option for student borrowers just getting started. But variable-rate loans could make sense, especially if you plan to pay off the loan aggressively.
- Extensive repayment options: Unlike federal student loans, cosigned private student loans might have more limited repayment options. Confirm you're comfortable with the repayment arrangement offered to you before moving forward.
- Borrower protections: If you experience financial hardship, some lenders offer deferment and forbearance options to provide a reprieve while you get back on your feet.
- Cosigner release: Some lenders offer a cosigner release option, which allows you to remove your cosigner. Typically, borrowers can apply for cosigner release after making a set number of on-time payments, in addition to meeting other eligibility requirements.
As a cosigner, it's important to look beyond the loan details and consider your financial situation.
“An individual or couple should treat the cosigning of a private student loan in the same way they would decide to borrow one for themselves,” says Cynthia Campos Delgado, founder and financial adviser at Campos Wealth Management in McAllen, Texas.
“Debt repayment is a risk to any household. Job loss, medical crisis, natural disaster or a similar event can cause repayment problems, with many long-term, negative consequences possible,” Delgado adds.
Before cosigning a loan, be absolutely certain you can afford to keep up with the payments if the borrower can't.
How to qualify for a student loan with a cosigner
Adding a cosigner often increases your chances of loan approval. But obtaining a loan still isn't a guarantee, even if you find a willing cosigner. If you plan to apply for a student loan with a cosigner, use the following strategies to increase your approval odds:
- Be sure your cosigner has a strong credit score: Most lenders prefer to work with borrowers or cosigners who have a FICO score of 670 or higher. If your cosigner's credit score is on the lower side, they may not be able to help you qualify for a loan or a low rate.
- Check income requirements: Some private lenders post income requirements for their student loans. Confirm that your cosigner has sufficient income for the loan before applying.
How cosigner release works
Although having a cosigner on your loan allows you to access the funds you need, most cosigners don't want to stay locked into the loan for the entire term. Luckily, many lenders offer cosigner release options.
In most cases, cosigner release becomes available after the borrower makes a required number of on-time payments. For example, the lender might require you to make 12 on-time principal and interest payments before allowing you to apply for cosigner release. You'll also typically need to meet eligibility requirements, like having an income over a certain amount. You can contact your loan servicer to find out what criteria you must meet to qualify for cosigner release.
If you meet the requirements, most lenders will require either you or your cosigner to submit an application for cosigner release.
FAQ
What are the best student loans with a cosigner?
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When can a cosigner be released from a student loan?
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