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9 Student Loans With Fastest Co-Signer Release

To get a co-signer release you must have at least one year of on-time payments and meet the lender's additional requirements on your own.

NerdWallet
By
Last updated on July 13, 2023
Edited by
✅ Fact checked and reviewed
Des Toups
Edited by
✅ Fact checked and reviewed

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Featured lendersSee all partners
Sallie Mae Undergraduate Student Loan
Sallie Mae Undergraduate Student Loan
Sallie Mae Undergraduate Student Loan
4.5
NerdWallet rating
Best for part-time students and those who want to make payments during school.
Visit Partner
Ascent Credit-based Student Loan
Best for students with a creditworthy co-signer.

Student Loans With Fastest Co-Signer Release

Lender
NerdWallet Rating
Min. credit score
Fixed APR
Variable APR
Learn more
Sallie Mae Undergraduate Student Loan

Sallie Mae Undergraduate Student Loan

Check rate
on Sallie Mae's website
on Sallie Mae's website
COMPARE RATES
on Credible’s website
on Credible’s website
Best for Release after 12 months of payments

Mid-600's

4.50-15.49%

6.37-16.70%

Check rate
on Sallie Mae's website
on Sallie Mae's website
Ascent Credit-based Student Loan

Ascent Credit-based Student Loan

5.0
/5
Best for Release after 12 months of payments

Low-Mid 600s

4.09-15.71%

6.16-16.09%

SoFi Undergraduate Student Loan

SoFi Undergraduate Student Loan

4.5
/5
Best for Release after 24 months of payments

Mid-600s

4.44-14.70%

5.99-14.70%

Our pick for

Release after 12 months of payments

Sallie Mae Undergraduate Student Loan
Check rate
on Sallie Mae's website
on Sallie Mae's website
Sallie Mae Undergraduate Student Loan

Sallie Mae Undergraduate Student Loan

4.5
Min. credit score

Mid-600's

Fixed APR

4.50-15.49%

Variable APR

6.37-16.70%

Key factsBest for part-time students and those who want to make payments during school.
Pros
  • One of the few lenders to provide loans to part-time students.
  • Non-U.S. citizens, including DACA students, who live in the U.S. and attend school in the U.S. can apply with a qualified co-signer who is a U.S. citizen or permanent resident.
Cons
  • You can't see if you’ll qualify and what rate you’ll get without a hard credit check.
Qualifications
  • Typical credit score of approved borrowers or co-signers: Does not disclose.
  • Minimum income: Did not disclose.
  • Loan amounts: $1,000 up to 100% of the school-certified expenses.
Available Term Lengths10 to 15 years
DisclaimerLowest rates shown include the auto debit. Advertised APRs for undergraduate students assume a $10,000 loan to a student who attends school for 4 years and has no prior Sallie Mae-serviced loans. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment. Advertised APRs are valid as of 2/26/2024. Loan amounts: For applications submitted directly to Sallie Mae, loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Applications submitted to Sallie Mae through a partner website may be subjected to a lower maximum loan request amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time. Examples of typical costs for a $10,000 Smart Option Student Loan with the most common fixed rate, fixed repayment option, 6-month separation period, and two disbursements: For a borrower with no prior loans and a 4-year in-school period, it works out to a 10.28% fixed APR, 51 payments of $25.00, 119 payments of $182.67 and one payment of $121.71, for a Total Loan Cost of $23,134.44. For a borrower with $20,000 in prior loans and a 2-year in-school period, it works out to a 10.78% fixed APR, 27 payments of $25.00, 179 payments of $132.53 and one payment of $40.35 for a total loan cost of $24,438.22. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years.
Read Full Review
Ascent Credit-based Student Loan

Ascent Credit-based Student Loan

Min. credit score

Low-Mid 600s

Fixed APR

4.09-15.71%

Variable APR

6.16-16.09%

Key factsBest for students with a creditworthy co-signer.
Pros
  • Among the best for payment flexibility.
  • You can see if you’ll qualify and what rate you’ll get without a hard credit check.
  • Stands out for features that enable faster loan repayment.
Cons
  • Students enrolled less than half-time are not eligible.
  • Co-signer release not available to international students.
Qualifications
  • Typical credit score of approved borrowers: Did not disclose.
  • Minimum income: $0 for primary borrower. $24,000 for current and previous year for co-signer.
  • Loan amounts: $2,001 to $200,000 per year with an aggregate loan limit of $200,000.
Available Term Lengths5, 7, 10, 12 or 15 years
DisclaimerAscent’s undergraduate and graduate student loans are funded by Bank of Lake Mills or DR Bank, each Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: AscentFunding.com/Ts&Cs. Rates are effective as of 3/1/2024 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate outcomes-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. For Ascent rates and repayment examples please visit: AscentFunding.com/Rates. 1% Cash Back Graduation Reward subject to terms and conditions. Cosigned Credit-Based Loan student must meet certain minimum credit criteria. The minimum score required is subject to change and may depend on the credit score of your cosigner. Lowest rates require interest-only payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the repayment examples above, based on the amount of time you spend in school and any grace period you have before repayment begins.

Our pick for

Release after 24 months of payments

SoFi Undergraduate Student Loan

SoFi Undergraduate Student Loan

Min. credit score

Mid-600s

Fixed APR

4.44-14.70%

Variable APR

5.99-14.70%

Key factsBest for flexible repayment options and no fees.
Pros
  • You can see if you’ll qualify and what rate you’ll get without a hard credit check.
  • Multiple in-school repayment options available, including interest-only and flat-fee, and deferred for undergrad and grad students.
  • Additional perks like career planning, job search assistance and entrepreneurship support available.
Cons
  • Does not offer bi-weekly payments via autopay.
Qualifications
  • Typical credit score of approved borrowers or co-signers: 700+.
  • Minimum income: No minimum.
  • Loan amounts: $1,000 minimum.
Available Term Lengths5, 7, 10 or 15 years
DisclaimerUNDERGRADUATE LOANS: Fixed rates from 4.44% to 14.70% annual percentage rate ("APR") (with autopay), variable rates from 5.99% to 14.70% APR (with autopay). GRADUATE LOANS: Fixed rates from 4.99% to 13.60% APR (with autopay), variable rates from 5.99% to 14.10% APR (with autopay). PARENT LOANS: Fixed rates from 6.50% to 14.83% APR (with autopay), variable rates from 6.32% to 14.83% APR (with autopay). For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases. Interest rates for variable rate loans are capped at 13.95%, unless required to be lower to comply with applicable law. Lowest rates are reserved for the most creditworthy borrowers. If approved for a loan, the interest rate offered will depend on your creditworthiness, the repayment option you select, the term and amount of the loan and other factors, and will be within the ranges of rates listed above. The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Information current as of 3/1/2024.
LendKey Private Student Loan
Check rate
on LendKey's website
on LendKey's website
LendKey Private Student Loan

LendKey Private Student Loan

Min. credit score

660

Fixed APR

4.39-11.11%

Variable APR

5.84-11.11%

Key factsBest for students who value working with a community bank or credit union.
Pros
  • Forbearance of 18 months is longer than many lenders offer.
Cons
  • You can’t see if you’ll qualify and what rate you’ll get without a hard credit check.
  • Payment required while in school and during the grace period.
Qualifications
  • Typical credit score of approved borrowers: 748.
  • Minimum income: $24,000 per year.
  • Loan amounts: $1,000 up to cost of attendance, minus other aid received.
Available Term Lengths5, 10 or 15 years.
Navy Federal Private Student Loan

Navy Federal Private Student Loan

Min. credit score

Does not disclose

Fixed APR

N/A

Variable APR

N/A

Key factsAn option for members of Navy Federal Credit Union who can make small payments while in school.
Pros
  • Forbearance of 18 months is longer than many lenders offer.
Cons
  • Available only to existing Navy Federal Credit Union customers.
  • Only one repayment term: 10 years.
  • Payment required while in school and during the grace period.
Qualifications
  • Typical credit score of approved borrowers: Did not disclose.
  • Minimum income: A co-signer must earn $15,000 or more.
  • Loan amounts: $2,000 minimum to $120,000 for undergraduates, or $160,000 for graduate students.
Available Term Lengths10 years
RISLA Private Student Loan

RISLA Private Student Loan

Min. credit score

680

Fixed APR

4.99-6.94%

Variable APR

N/A

Key factsBest for students who may need wiggle room on payments in the future.
Pros
  • Income-based repayment plan available, with forgiveness after 25 years.
  • You can see if you’ll qualify and what rate you’ll get without a hard credit check.
  • Partial loan forgiveness for eligible internships; interest forgiveness for qualifying nurses.
Cons
  • Fewer repayment terms available than other lenders.
Qualifications
  • Typical credit score of approved borrowers: 768.
  • Minimum income: $40,000.
  • Loan amounts: $1,500 to $45,000.
Available Term Lengths10 or 15 years
Nelnet Bank Private Student Loan

Nelnet Bank Private Student Loan

Min. credit score

Mid to High 600s

Fixed APR

4.49-15.47%

Variable APR

6.29-15.51%

Key factsBest for borrowers who value flexibility in repayment.
Pros
  • Provides rate offer with soft credit check.
Cons
  • Does not disclose full underwriting requirements.
  • Does not allow bi-weekly payments via autopay.
Qualifications
  • Typical credit score of approved borrowers: Did not disclose.
  • Loan amounts: $1,000 with an aggregate loan limit of $125,000
Available Term Lengths
DisclaimerFixed interest rates range from 4.49% APR (with auto debit discount) to 15.47% APR (without auto debit discount). Your interest rate will depend on your (and if applicable, your cosigner’s) credit qualifications. The fixed interest rate will remain the same for the life of the loan. Variable interest rates range from 6.29% APR (with auto debit discount) to 15.51% APR (without auto debit discount). Your interest rate will depend on your (and if applicable, your cosigner’s) credit qualifications. Variable rates for Nelnet Bank Student Loans are calculated using either (a) the One-Month SOFR; (b) the 30-day Average SOFR; or (c) the forward-looking term rate based on SOFR as published by the Federal Reserve Bank of New York and/or The Wall Street Journal “Money Rates” table on the twenty-fifth day (or the next business day) of the immediately preceding calendar month. The variable rate may reprice and change on the first day of each month if the SOFR index changes. This may result in higher monthly payments. The current One-Month SOFR index is 5.34% as of March 1, 2024.
ISL Private Student Loan

ISL Private Student Loan

Min. credit score

660

Fixed APR

3.85-8.40%

Variable APR

5.59-10.71%

Key factsBest for low-interest loans with consumer-friendly features, like a generous forbearance policy.
Pros
  • Forbearance of 24 months is longer than many lenders offer.
  • No late fees.
Cons
  • Only offers 2 loan terms.
Qualifications
  • Typical credit score of approved borrowers or co-signers: 670.
  • Minimum income: No minimum income.
  • Loan amounts: $1,001 or $2,001, based on residency and school location, up to cost of attendance minus other aid received.
Available Term Lengths10 or 15

Our pick for

Release after 12 month of payments

Advantage Education Private Student Loan

Advantage Education Private Student Loan

Min. credit score

Does not disclose

Fixed APR

2.84-7.74%

Variable APR

N/A

Key factsBest for nontraditional or part-time students.
Pros
  • Forbearance of 24 months is twice as long as most lenders.
  • Loans are available if you’re enrolled less than half time.
Cons
  • Fewer repayment terms than other lenders offer.
  • Borrowers are not able to defer loans if they return to school after their grace period ends.
Qualifications
  • Typical credit score of approved borrowers: Does not disclose.
  • Minimum income: Does not disclose.
  • Loan amounts: Minimum $1,000. Maximum depends on creditworthiness and debt-to-income ratio.
Available Term Lengths10 years

How to get a student loan co-signer release

Almost all private student loans have a co-signer release option. Each lender has slightly different requirements; check with yours to make sure you know all the fine print. Generally, you must:

1. Make at least 12 on-time payments

Depending on the lender, you must make 12, 24, 36 or 48 on-time payments before applying for a co-signer release. Often, those payments must be consecutive and without periods of forbearance. If you made fixed or interest-only payments during school, those may not count.

2. Meet the income and credit requirements

When you take out a student loan with a co-signer, you qualify based on their credit history and financial profile. To remove the co-signer, you must meet those requirements on your own.

You'll need good credit — a FICO score in the high 600s, at least — and enough income to afford your debt payments and other expenses. Most lenders also require that you graduate first and have U.S. citizenship or permanent resident status.

3. Submit a co-signer release application

Some lenders and servicers, including Sallie Mae, have co-signer release applications available online. Otherwise, contact your lender or servicer to request one.

You may need to disclose financial information including your income, housing payment and other debt payments. Your lender may also check your credit report and ask for income verification.

Co-signer release for refinanced student loans

It’s possible to apply for student loan refinancing with a co-signer.

Some student loan refinance lenders — including Laurel Road and PenFed — offer co-signer release. But other refinance lenders, such as SoFi and Earnest, don’t.

STUDENT LOAN RATINGS METHODOLOGY

Our survey of more than 29 banks, credit unions and online lenders offering student loans and student loan refinancing includes the top 10 lenders by market share and top 10 lenders by online search volume, as well as lenders that serve specialty or nontraditional markets.

We consider 40 features and data points for each financial institution. Depending on the category, these include the availability of biweekly payments through autopay, minimum credit score and income requirement disclosures, availability to borrowers in all states, extended grace periods and in-house customer service.

The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.

Last updated on July 13, 2023

To recap our selections...

NerdWallet's Student Loans With Fastest Co-Signer Release

  • Sallie Mae Undergraduate Student Loan: Best for Release after 12 months of payments
  • Ascent Credit-based Student Loan: Best for Release after 12 months of payments
  • SoFi Undergraduate Student Loan: Best for Release after 24 months of payments
  • LendKey Private Student Loan: Best for Release after 24 months of payments
  • Navy Federal Private Student Loan: Best for Release after 24 months of payments
  • RISLA Private Student Loan: Best for Release after 24 months of payments
  • Advantage Education Private Student Loan: Best for Release after 12 month of payments
  • Nelnet Bank Private Student Loan: Best for Release after 24 months of payments
  • ISL Private Student Loan: Best for Release after 24 months of payments

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