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Noah asked in Business & FinanceCredit · 10 months ago

Question about cosigner requirements?


I would like to know how much credit history is typically required to cosign a student loan. Let's say the cosigner has a credit score 700+, salary of 75K+. How much credit history do lenders need to see before they approve a loan. Is just one year enough?

3 Answers

  • Anonymous
    10 months ago

    Its not a set date and its not just the score. I would think longer than a year for sure.

    Don't most people get a parent to do it?

    The lender has to look at it assuming you simply do not pay. Can the co-signer comfortably do so?

    For a loan that could be a significant amount where payments don't start for a few years, I would think they would want to see 10-15 years of good credit.

    On the other hand, if its a federally guaranteed loan, maybe not.

    I never was comfortable going into debt without a way to pay it back so I went to a Junior college and later a local 4 year one while working a crap job to pay for it.

    I was later offered a promotion and initially I was just going to do it for the summer but then I stuck with it because I knew raises & promotions would likely follow if I did a good job. (and they did)

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  • 10 months ago


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  • 10 months ago

    You use a co-signer when you need to have your credit enhanced, Someone with an inflated score because of a short credit history, doesn't do that.

    Also, does the person understand how long student loan terms are for. Could be up to 30 years. If this person is not your spouse, parents, grandparents or other older family, they shouldn't get involved.

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