How to Remove a Co-Signer From a Student Loan

Once you have established yourself and are in a financial position to pay your student loans independently, it is possible to take a co-signer off your current loan. This will improve your credit score and make the co-signer happy. Follow these steps to remove a co-signer from a student loan once you become eligible to sign yourself.

Instructions

    • 1

      Make sure you have been paying your loan on time. The only way you are going to be able to get out of having a co-signer is if you have been paying that particular student loan on time for an extended period of time.

    • 2

      There are two ways to remove a co-signer: you can refinance the loan or contact your lender.

    • 3

      Refinancing is the process of getting a new loan at a lower interest rate to pay off the original loan. Loans can be refinanced with the original lender, or you can get a loan from another lending institution which may offer better rates and terms.

    • 4

      Another way to get rid of a co-signer is to contact your lending institution and request the co-signer be taken off. The lender will run your credit, and if it is sufficient, you will be able to take on your loan individually.

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