Co-Signing for Your Child

One of the ironies of lending is that it takes credit to get credit. Without an established credit history, students find it difficult, if not impossible, to borrow money for college. Even with an established credit history, students may find it difficult to meet all the qualifications for a loan without a little help from their parents.

NextStudent private student loans are low-cost education loans established in the student's name, so the borrower-your child-is responsible for making timely payments and repaying the loan as agreed. Co-signing for a NextStudent private student loan is one way parents can help their child qualify, and start building a good credit history of their own. In fact, co-signing for your child's loan is often the fastest and most direct route to student loan approval.

Without a co-signor, your child will need:

In return for your signature, your child receives affordable funding to meet college expenses, and builds a foundation for financial independence.

* Please be aware that due to current conditions in the student loan market in particular and in the financial sector in general, NextStudent is not currently able to accept any new PLUS, Grad PLUS, Stafford, or Federal Consolidation Loan applications.

On October 1, 2007, legislation went into effect that cut $21 billion in subsidies to FFELP lenders like NextStudent. We have been searching, and continue to search, for avenues that would allow us to keep offering FFELP loans. But at this point, until market and regulatory conditions change, we find ourselves forced to suspend our federal education loan programs.

We value your business, and we want to make sure you’re able to get the money you need to pay for school. We encourage you to take advantage of college scholarships and your available federal financing options. But if you’re still in need of a parent or student loan, please give us a call, and we’ll do what we can to help.