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Private Student Loans: Why would someone need a cosigner?

Many students looking for a school loan have a limited credit history and income, which tends to make them unable to meet our minimum eligibility criteria needed to get approved for a loan. A cosigner with a strong credit history and sufficient income can improve the likelihood of the student getting approved.

Some students may be eligible for a loan on their own, however we highly recommend getting a cosigner. A creditworthy cosigner may help a student get a lower interest rate, which will help them pay less over the life of the loan.

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