Thinking about applying for a student loan, but unsure if you qualify on your own?
That’s where a co-signer steps in.
Whether you're gearing up for your first semester or bracing yourself for another group project where you do all the work, understanding when and why you might need a co-signer can help you borrow smarter.
A co-signer is someone, usually a parent, guardian, or trusted adult who agrees to be responsible for your loan with you. So, if you can’t make payments, they’re on the hook to cover it.
It’s a big favor — and a big responsibility — so it's important to choose someone who understands that.
QUICK TIP: A co-signer doesn’t have to be a parent. It can be any creditworthy person willing to take on that commitment with you. Think of it like a financial trust fall. |
If you’re applying for a private student loan, chances are high you’ll need a co-signer — especially if you’re fresh out of high school and don’t have a credit history or steady job yet.
Lenders use your credit score and income to decide if they can trust you to repay the loan. And if they can’t find that info (or it doesn’t meet their standards), they’ll require a co-signer to reduce their risk.
Here’s when a co-signer is usually needed:
Having a co-signer helps make your application stronger — and may save you money in the long run with better loan terms.
In most cases, nope! Federal student loans are designed to be more accessible. They don’t require a co-signer or a credit check (with one exception). That’s why they should usually be your first stop when looking for college funding. Here's a quick breakdown:
[table1]
Yes — and it happens more often than you might think. Even if someone wants to help, a lender can deny them as a co-signer if their credit score, debt, or income doesn’t meet the lender’s standards. Since the co-signer is agreeing to repay the loan if you don’t, the lender needs to trust that they can actually follow through.
QUICK TIP: Before asking someone to co-sign, encourage them to check their credit. It’ll save time (and awkward conversations) down the road. |
Having a co-signer can open doors, but it also comes with real responsibility for both of you.
[faq1]
QUICK TIP: If you're looking to be a co-signer, before signing, review your student’s financial habits and plans. It’s okay to ask how they’ll manage the monthly payments — after all, your credit is on the line too. |
Not everyone with good credit is the right co-signer for you. Choose someone who’s supportive — and realistic.
It’s also a good idea to have a backup plan in place. Ask yourself (and your co-signer): “What happens if I can’t pay one month?” Talking through this early on avoids confusion or frustration later
This part might feel a bit awkward, but you can do it! Approach the conversation with honesty and have a clear plan. Here's what'll make it easier:
Here's our Co-signer Guide that can help you step by step.
[faq2]
If the loan process still feels overwhelming — we’ve got you. Skyla has partnered with Sparrow, a student loan marketplace that takes the guesswork out of finding the right loan.
With Sparrow, you can:
Yes — you don’t have to keep a co-signer on your loan forever. Once you’ve shown that you’re financially stable and responsible, most lenders offer a co-signer release option. That means your co-signer can be removed from the loan, and it’ll be yours alone.
Here are a few ways to do it:
Psst... not all lenders offer co-signer release...so make sure you ask this question before signing the loan.
Not everyone has someone in their life who can — or should — co-sign. And that’s okay. You're not out of options. Try one or more of these alternatives:
QUICK TIP: The most important thing? Don’t give up on your goals — just find the path that fits your situation. |
If you're thinking, “Okay, I get the co-signer thing now… but what am I supposed to actually do next?” — here’s your starter pack:
Even if you think you won’t qualify, filling out the FAFSA opens doors to federal loans, grants, and school-based aid — no co-signer needed for most of it.
If you think you’ll need a co-signer, don’t stress. Start the convo with a parent, guardian, or someone close who may be able (and willing) to help. Not sure how to bring it up? We’ve got a guide for that.
Once you’ve explored federal aid through FAFSA, you can use Skyla + Sparrow to shop private student loans. Whether you have a co-signer or not, you can compare offers, check your rates, and find a private loan that fits your needs — all in one place, and without affecting your credit.
And hey — you don’t need to have it all figured out today. The important thing is that you’re starting. Step by step, you’ll get there.