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 be 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, a creditworthy cosigner may help a student get a lower interest rate, which will help them pay less over the life of the loan.