Are you making the right student loan choices?

Paying for college has changed. Update your plan!

Make the right college payment choice with #MyCollegeCorner 🎓 Help with #StudentLoans and more #MondayMotivation

Hi @KenOConnor! Can you ask John a question for me? When a student/parent takes out a cosigned loan and the payments have begun, can the loan be switched to just the student's name down the road if credit and payment record permits it? Basically, removing the parent's name or liability from the loan?

That's called a cosigner release. It's found on certain private loans. It's not available on any federal loans because they work different. When considering a private loan, make sure to know if cosigner release is an available option. Find out the requirements, like how many payments must be made by the student borrower before the cosigner can be considered for release (24,36,48 etc) John brings it up on this episode, and we might revisit in more detail! https://www.youtube.com/watch?v=eLgObY_0vH4

1
false