Have a conversation about sharing college costs.
Use our Family
Discussion Guide
Be prepared
Use our Application
Checklist
Joint responsibility for repayment
Better chance of approval
Co-signer responsibilities
When a student applies with a co-signer, both parties intend to:
1. Jointly apply for credit
2. Be jointly responsible for repaying the requested loan.
So, if the student doesn't make a payment, the co-signer
is responsible for making it.
Use our Family Discussion Guide to talk about financial responsibilities.
What makes a good co-signer?
Most students ask a parent or guardian to co-sign a loan, but any adult can share this responsibility with you if that person:
Has a satisfactory income history for at least two years
Has proof of positive income
Has at least 27 months of credit experience and a satisfactory credit history
Is a U.S. citizen or permanent resident
Help if you're conditionally denied
If you apply for an Astrive Student Loan on your own and are conditionally denied, you can add a creditworthy potential co-signer to your loan within 60 days—you won't have to fill out the entire application again.
Co-signer release
Astrive Student Loan benefits include a co-signer release, which can remove a co-signer's responsibility after time. This benefit is available to borrowers who make their first 48 principal and interest payments on time.1
Astrive Student Loans are private student loans marketed by Union Federal Savings Bank, Member FDIC and Equal Opportunity Lender. Astrive is a federally registered trademark of The First Marblehead Corporation, used by Union Federal Savings Bank.
1 Co-signers will be eligible for co-signer release upon request if (1) the initial 48 payments of principal and interest are paid on time, and (2) the borrower meets creditworthiness criteria at the time of the release of the co-signer.
