Credible takeaways
- Some, but not all, student loan lenders offer cosigner release.
- Cosigner release removes a cosigner's responsibility for loan repayment
- Borrowers must make on-time payments and qualify for cosigner release based on credit and income.
Applying with a cosigner can make it easier to get approved for a private student loan and to qualify for favorable loan rates and terms. But eventually, your cosigner may want their name off the loan. Cosigner release can make that happen.
Current private student rates
What is cosigner release on a student loan?
Cosigner release removes a cosigner from a loan agreement, so they are no longer legally responsible for repayment and can't be penalized for late or missed payments.
If you borrowed with a cosigner and qualify for cosigner release, the loan becomes your sole responsibility. You’ll be the only one required to make payments and follow the loan terms.
The requirements for cosigner release vary by lender, but you usually must make a specific number of on-time monthly payments before you qualify.
You will also need to meet credit and income requirements. Essentially, you must show you can qualify for the loan — and cover the payments comfortably — on your own.
Pros and cons of cosigner release
The biggest benefit of a cosigner release is that your cosigner is no longer legally responsible for repayment.
Your student loans are removed from their credit report. That means their credit score won't be damaged if you miss a payment, and they can borrow money more easily going forward. They'll also no longer face collection activity if you don't pay.
The downside is that you become solely responsible for the loan and the consequences of nonpayment. You’ll also need to meet the lender's income and credit requirements for cosigner release, which may not be possible depending on your finances. And not all lenders offer cosigner release.
Pros
- Releases your cosigner from all responsibilities of the loan
- Allows your cosigner to more easily qualify for new credit
- Protects your cosigner from consequences if you miss payments
- Requires no refinancing
Cons
- Puts all the loan responsibilities on you
- Must meet credit and income requirements
- Not all lenders offer cosigner release
- May need to make payments for several years before you can qualify
10 best student loans with cosigner release
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
-
Variable APR
-
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.
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
-
Variable APR
-
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
Mid-600s
Fixed APR
-
Variable APR
-
Loan Amount
$1,000 up to school-certified cost of attendance (aggregate $225,000 limit)
Term
5, 7, 10, 15, 20
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 request a 2% principal reduction after graduating. With no fees, cosigner release available after 12 consecutive on-time monthly principal and interest 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.
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
-
Variable APR
-
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.
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
-
Variable APR
-
Loan Amount
$1,000 up to 100% of the school-certified cost of attendance
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.
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.
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.
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
Mid-600s
Fixed APR
-
Variable APR
-
Loan Amount
$1,000 up to school-certified cost of attendance (aggregate $225,000 limit, $350,000 limit for certain discipline specific graduate loans)
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.
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.
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
-
Variable APR
-
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
-
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.
How to qualify for private student loan cosigner release
Cosigner release requirements depend on your lender. Usually, you’ll need to make 12 to 48 months of on-time payments before qualifying.
You also need good credit — lenders often require a score of 650 or higher — and must prove you have enough income to cover monthly payments.
How to choose a student loan with cosigner release
Not all lenders offer a cosigner release, so be sure to verify its availability before taking out private student loans if you or your cosigner is interested in this option.
Most private student loan lenders clearly advertise cosigner release if they offer it. If you’re considering a lender that doesn’t, contact them to confirm.
If your lender doesn't offer cosigner release, refinancing your student loans will be the only way to remove your cosigner in the future.
What happens if your cosigner is released?
Once your cosigner is released, they are removed from the loan agreement and are no longer legally responsible for repayment. You will be solely responsible for the loan. If you miss payments or violate other terms of your loan agreement, you face damage to your credit score, late fees, wage garnishment, and potential legal action.
Is cosigner release better than refinancing?
Cosigner release is sometimes better than refinancing because refinancing requires a new loan application and qualification process. Refinancing can also change your interest rate, and some lenders charge upfront costs, including origination and application fees.
There are also times when refinancing is better. If current student loan rates that you qualify for are lower than the rate on your existing loan, you can refinance to both remove your cosigner and reduce your interest rate at the same time. You may also want to refinance to change the terms of your loans, as a cosigner release just removes your cosigner and doesn't change other loan details.
Methodology
To determine the best student loan lenders for cosmetology school, 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 trust Credible?
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.
FAQ
Can I release a student loan cosigner without refinancing?
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Does cosigner release from a student loan hurt your credit?
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Does cosigner release affect the student loan cosigner’s credit?
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What credit score do you need for student loan cosigner release?
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Can a cosigner request removal from a student loan?
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