Consolidating alpln loans

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Please remember that your use of this website is governed by Bankrate’s Terms of Use. As of 2015, total private student loan debt amounted to .8 billion.It’s not unusual for the co-signer to later regret that decision and look for a way to exit that agreement.

It is something that we try to teach about here all the time.If the primary borrower meets the credit criteria, the co-signer is released from the loan obligation.If your friend graduated recently, he might still be in what Sallie Mae calls the “separation” period and is allowed to make interest-only payments for 6 months.After graduation, the primary borrower may apply for co-signer release after making 12 consecutive monthly on-time principal and interest payments.Sallie Mae looks at the primary borrower’s demonstrated success with other credit obligations (e.g., car payments, apartment rent or credit card) and reviews whether your friend has sufficient income to manage the payments.

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