Your cosigner may be released from the loan under certain circumstances:
- Only the primary borrower on the account can apply for cosigner release and must pass a credit check, which includes income verification.
- Loans must be current, with 12 consecutive, on-time principal and interest payments prior to applying.
- Payments that are interest only or otherwise less than a payment under a Standard (Level) Repayment plan do not count toward cosigner release eligibility.
- The primary borrower must also be a U.S citizen or permanent resident and meet the age of majority in the state.
- The primary borrower must also provide: proof of graduation or successful completion of of course of study and proof of income.