Earnest does not offer cosigner release. However, if a primary borrower refinances a cosigned student loan, the obligation to repay the underlying loan ends when the loan is paid in full. This means a cosigner may be relieved from repaying a student loan if the primary borrower refinances the existing debt into a new loan as an independent borrower or with a different cosigner. This process involves the primary borrower applying, being approved, and signing a new refinanced loan that will completely pay off the underlying student loan(s). The underlying loan and payment history will remain on the cosigner's credit report but updated to reflect that it has been paid in full.
It’s important to note, that the primary borrower would need to meet the new refinance loan’s eligibility requirements, and the interest rate or monthly payment may differ from the terms of the underlying loan(s). If you have an existing Earnest loan and are looking to refinance, please check out this article for specific eligibility requirements.