Cosigners

Individuals borrowing a VSAC private loan frequently obtain a cosigner.

• A cosigner has the same responsibilities for repayment of the loan as the student; the cosigner is equally liable for the debt.

• Obtaining a cosigner is optional when student borrowers meet our credit criteria; if borrowers don’t meet our credit criteria, a cosigner is required.

• If a borrower is unable to pay, the cosigner is expected to make payments, including any late or collection fees.

• Each month, both the borrower and cosigner receive a bill statement and are reported to the national credit bureaus.

• Both the borrower and cosigner must sign all paperwork.

• Cosigner release is available upon request to qualified borrowers; borrowers must meet VSAC’s credit criteria after 48 months of active repayment.