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A cosigner may be released from the loan if the student borrower is a U.At the time the borrower asks us to release the cosigner, all of the following requirements must be met: If these requirements are met, then the borrower must return a signed cosigner release application and, at that time, satisfy a full credit, employment, and income evaluation.
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Here are five common pieces of advice that don’t always pan out so well for borrowers.
The cosigner doesn’t have to be a relative; he or she can be anyone who meets the requirements — ideally someone with an established credit history and steady income.
We will evaluate credit, employment, and income factors to determine the student borrower's ability to take full responsibility for repaying the loan.
Any adult who meets the credit and citizenship requirements can be a cosigner for a private student loan.
national, or is a permanent resident alien with proper evidence of eligibility, and contacts Wells Fargo to request release of the cosigner.
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