should want to be released As you will repay your student loans over many years, it is highly desirable — from the cosigner’s point of view — to be released from the loan.
There’s one simple reason, but it can have a huge effect: The longer the loan is in existence, the higher the likelihood you could make late payments or even default.
They continuously seek to demonstrate that they care less than the other party, thereby claiming the upper hand.
When you have a cosigner on your student loans, you can be affected by their financial problems — and vice versa.
What if all of your payments have been made on time? The purpose of the cosigner provision is to reduce the lender’s risk.For that reason, the lender has no incentive to make it easy to release the cosigner.Since they may not volunteer the information, you need to specifically ask about it.The borrower must: Private student loans If you have a loan from a private lender, the process for getting the cosigner released will vary from lender to lender.For example, at Citizens Bank a cosigner may be released after 36 consecutive payments of both principal and interest.