A 2012 report from the Department of Education and Consumer Financial Protection Bureau (CFPB) estimated that as many as 9 in 10 private student loans were co-signed by borrowers’ parents. Over time, a co-signer may no longer be necessary and you can request to release him/her from the loan, but this can sometimes become complicated, as rules and regulations can vary greatly among different lenders.If you wish to obtain a co-signer release from Navient after graduating and making twelve consecutive and on-time payments (of both principal and interest), there are a few specific steps, including: access the co-signer release application on Navient’s website, which can be printed; provide proof of graduation, citizenship, income, and “select expenses,” such as payments on homes, cars, or student loans; and list your co-signer/s by name in the application.It’s important that you stay on-track with your student loan payments leading up to a potential co-signer release, as you will need to make at least twelve consecutive and timely payments to be eligible. If you are able to make multiple payments within a month (of both principal and interest) during this twelve-month span, you may be eligible for the co-signer release sooner.If you are struggling with student loan debt, you are not alone. Contact an experienced student loan attorney today for a free consultation.
Co-Signer Release
Written and Reviewed by Michael Agruss
- Managing Partner and Personal Injury Lawyer at Mike Agruss Law.
- Over 20 years of experience in Personal Injury.
- Over 8000+ consumer rights cases settled.
- Graduated from the University of Illinois Chicago School of Law: Juris Doctor, 2004.
Submitted Comments
Elizabeth
6 years ago
I would like to sue my student loan provider, Navient. I have been qualified as a Total Permanent Disabled person and have been awarded total discharge for my student loans. However, Navient informed me that I could be remove completely or have my co-signer be responsible. The co-signer is my father who has dementia and is elderly. Because he does not remember who Navient is, I am forced to explain to my father over and over again which causes me great pain and suffering. I told Navient that I am willing to take on the student loan and become the sole person responsible for my student loans. I have requested Navient to remove my co-signer and to stop all correspondence for my father. After months and months Navient has not complied with my requests or have honored what they have told me. Navient has neglected my requests which is causing me much pain and suffering.
