This page will help you decide when it is to your advantage to consider a cosigner and direct you (or your parents) to the next step in cosigning a student loan.

When to consider a cosigner

There are two instances in which a creditworthy cosigner is helpful:

• If you do not have an established credit history and are applying for a credit-based private student loan (such as Sallie Mae's Smart Option Student Loan), applying with a cosigner may help you get approved.
• Even if you have an established credit history, many private student loans have a “tiered” interest rate structure in which those with excellent credit can enjoy superior terms.

As a result, if your cosigner has excellent credit (and you do not), you are likely to benefit from a student loan with lower rates and fees.

Ready to apply for a loan as a cosigner? Apply now!