How is a cosigner affected by an Alternative Loan?
• The loan(s) will appear on the cosigner’s credit report as if they were the borrower who is responsible for the debt. An Alternative Loan may affect the cosigner’s ability to obtain credit such as a mortgage or car loan. Cosigners may be released from the Alternative Loan after a specific number of on-time payments have been made, and the student borrower is determined to be a creditworthy borrower on his own. Refer to your selected loan program for details.
