What is a cosigner and why should I consider adding one?

cosigner is a person who agrees to pay a borrower’s debt if he or she defaults on the loan.

The person asked to cosign a loan usually has a good credit score and a lengthy credit history, which greatly improves the primary borrower’s odds of approval/getting a lower rate.

Some of our student loans refinance partners have release clauses when you apply with a co-signer whereby the co-signer may be removed from a loan once the primary borrower has shown financial discipline and on-time payments. Learn more here.

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