Laurel Road (Co-Signer)

Laurel Road accepts co-signers on certain private student loan applications, which can help students who have limited or no credit history qualify for a loan or access a lower interest rate. A co-signer is typically a creditworthy parent or other adult who agrees to be equally responsible for repaying the loan if the primary borrower does not.

As with any private student loan, the first step should always be completing the FAFSA and exploring federal student loan eligibility. Federal loans offer income-driven repayment, deferment, forbearance, and potential forgiveness that private loans do not provide.

When a co-signer is added to a Laurel Road loan application, both the student borrower and the co-signer are evaluated for creditworthiness. A stronger co-signer credit profile can improve approval odds and may result in a lower interest rate than the student would receive independently.

Co-signers should understand that they take on full legal responsibility for the loan. If the student does not make payments, the co-signer is expected to pay, and missed payments can negatively affect the co-signer's credit score as well as the borrower's.

Laurel Road is particularly oriented toward graduate students and professionals in healthcare fields. Co-signer products are part of the broader loan lineup for those programs. Co-signer release, if available, allows a co-signer to be removed from the loan after the borrower meets certain criteria, such as a defined number of on-time payments and a satisfactory credit review.

When evaluating a co-signed Laurel Road loan, both the student and the co-signer should review the annual percentage rate, total repayment cost, repayment flexibility, and all terms carefully before applying.