Can You Have More Than One Cosigner On A Student Loan?

Multiple pens - ever wonder if you could have multiple student loan cosigners?

Flickr user Steve Hodgson

Many college students need to take out a private student loan in order to pay for college. However, not many have had the chance to build their own credit yet. Having a cosigner can help you get approved for student loans. But you may be wondering: can I have multiple student loan cosigners?

Most Lenders Only Allow One Cosigner

Nearly all lenders will allow only one student loan cosigner. This means if two people are willing to be cosigners on your loan, only one person will be recognized as the legal cosigner. This applies to your parents too. If both parents are willing to be cosigners on your loan, only one parent will be recognized.

Why Do You Need A Cosigner In The First Place?

Private lenders approve loan applications and determine interest rates based on the prospective borrower’s credit history. Borrowers who have strong credit history find it easier to get approved for loans and at lower interest rates too. Going by this trend, students would find it almost impossible to get private student loans as they would not have had the opportunity to build their credit history yet.

To make it possible for students to get the funds they need, private lenders allow students to borrow money if they have a creditworthy cosigner. A student loan cosigner is a creditworthy person who essentially takes responsibility for the loan.

Your Student Loan, Your Way.

Variable rates from 4.98% - 12.79% APR


Who Can Be A Cosigner?

There are no restrictions as to who can be a cosigner as long as the person meets the lender’s credit criteria. Your cosigner can be a parent, guardian, spouse, relative or even a close friend.

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Lender Rates (APR) Eligibility
Citizens logo.
6.98%-15.04%* Variable
5.99%-14.00%* Fixed
Undergraduate and Graduate
Sallie Mae logo.
6.37% - 16.70% Variable
4.50% - 15.49% Fixed
Undergraduate and Graduate
Credibe company logo.
4.98% - 16.85% Variable
4.07% - 16.49% Fixed
Undergraduate and Graduate
Lendkey company logo.
6.07% - 11.31% Variable
4.39% - 10.39% Fixed
Undergraduate and Graduate
Ascent company logo.
6.24% - 15.85% Variable
4.29% - 15.76% Fixed
Undergraduate and Graduate
6.54% - 11.08% Variable
3.95% - 8.01% Fixed
Undergraduate and Graduate
Earnest company logo.
5.62% - 18.26% Variable
4.11% - 15.90% Fixed
Undergraduate and Graduate
4.98% - 12.79% Variable
8.42% - 13.01% Fixed
Undergraduate and Graduate
College Raptor is not a loan lender and does not assume responsibility for suggesting a loan to a user who may not be eligible for it. Rates, terms, conditions, eligibility, approval, and other considerations are the decisions of the lenders and may vary depending on which lender or marketplace the user selects. We urge users to carefully consider and review all loan options and terms before committing to taking out a loan.

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