Cosigners & Parents

You’re there for them, we’re here with options. While many families start by cosigning a loan with the student, eligible parents now have a new path: borrow a Sallie Mae^® Parent Loan in your name.

Plan ahead with your estimated rate Find out in minutes if you prequalify as a cosigner or for a parent loan, with no credit impact or commitment.

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Two smart alternatives to Federal Parent PLUS loans

Cosign a loan

Parent loan

Cosign a Sallie Mae^® Student Loan

This is what most families choose. It's a practical way to help your student move forward, especially if they're just starting to build credit.

Best if you want to: Share full repayment responsibility with your student and help them build credit history over time.
3 Repayment options: Pay interest in school, pay a fixed amount in school, or make no payments until after school.^{footnote 1}
Cosigner release option: Your student can apply after they graduate, make on-time payments for a full year, and meet the credit and other eligibility requirements.^{footnote 2}

Sallie Mae^® Parent Loan

If you want to keep the loan in your name without impacting your student’s credit, you can see if you prequalify for our parent loan.

Best if you want to: Keep the loan in your name and keep your student from taking on debt.
2 Repayment options: Pay interest while the student is in school for up to 60 months or immediately start principal and interest payments.^{footnote 3}
Option for a cosigner: You can add another adult with good credit to your parent loan.

Cosign a student loan vs borrow a parent loan

Parents, guardians, and supportive adults, you have more than one way to help your student. Let’s compare your options.

Undergraduate Loan Cosigning Rates:

Fixed rates: 2.89% to 17.49% APR^{footnote 4}

Variable rates: 3.62% to 16.25% APR^{footnote 4}

Parent Loan Rates:

Fixed rates: 4.89% APR to 15.49% APR^{footnote 5}

Variable rates: 4.62% APR to 14.87% APR^{footnote 5}

Lowest rates shown include the auto debit discount. Only the most creditworthy applicants who choose the interest repayment option may receive the lowest rate.

Check my rate (no credit impact)

Cosign a student loan	Parent loan
Shared responsibility Student and cosigner are both responsible for repayment	Parent-only responsibility Parent/adult borrower is solely responsible for repayment
Student can build credit On-time payments can help establish credit history	Student’s credit is not impacted Loan doesn’t show up on their credit report
Cosigner may help lower rates May help your student get approved and get a lower rate	Rates based on parent’s credit Pricing depends solely on the parent/adult borrower
More repayment options during school Interest-only, fixed, or deferred repayment options^{footnote 1}	Fewer, simpler repayment options Interest-only or immediately start full principal & interest^{footnote 3}
Option to apply for cosigner release^{footnote 3} Support now, apply for cosigner release later	Parent keeps full control Parent/adult borrower manages payments and decisions

Parents, help your student reach their dreams

Up to 100% coverage

Full coverage available for school-certified costs like books, tuition, room and board, or even a laptop.^{footnote 6}

No upfront fees

The entire amount you borrow can go right toward their school costs.

Lower rates than parent PLUS are possible^{footnote 7}

More than 380,000 families got lower rates with us than parent PLUS in the last decade.^{footnote 8}

Support at every turn

Backed by decades of experience, we’re here for your whole journey. Start with our student loan guide and federal PLUS guide.

We keep it simple

Apply in
minutes

1. Tell us some basics

2. See if you prequalify

3. Apply when you're ready

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FAQs

Have other questions? We’re here to help.
1-877-279-7172

What’s the difference between cosigning a student loan and taking out a parent loan?

When you cosign a student loan, both you and your student’s names are on the loan, and you both agree to share full responsibility for repayment. That means you’re both legally responsible. Cosigning can help a student qualify for a loan, may lead to a better rate, and allows them to start building their own credit history with on‑time payments.

When you take out a parent loan, the loan is in your name only. You’re fully responsible for repayment, and your student isn’t responsible for the loan at all. This option can make sense if you want full control over the loan and making payments.

What’s a private parent loan?

The Sallie Mae^® Parent Loan is a private loan taken out by a parent, guardian, or another creditworthy adult. The loan is in the adult’s name only—not the student’s—so approval and interest rates are based on the adult’s credit profile, and they’re fully responsible for repayment.

Parents can also apply with a cosigner. A cosigner is another trusted adult with good credit who agrees to share full responsibility for repaying the loan. This can be a grandparent, relative, or friend. Applying with a creditworthy cosigner may increase the chances of approval and help secure a lower interest rate.

What are my responsibilities as a cosigner?

What are the benefits of cosigning?

Most students don’t have the credit history to take out a loan on their own. With a creditworthy cosigner, students are more likely to be approved, and they may get a lower interest rate. Cosigning can also help students start building their credit history. A cosigner can be a parent, or any responsible adult who agrees to share full responsibility for the loan.

Who can apply for a parent loan?

footnote Borrow responsibly
We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.

footnote Prequalification is not a firm offer of credit and does not guarantee loan approval. Prequalified rates are estimates and, if shown, are based on information you provide and a soft credit check. To apply for a loan, you must complete a full application and undergo a full credit review.

footnote Loans for Undergraduate & Career Training Students are not intended for graduate students and are subject to credit approval, identity verification, signed loan documents, and school certification. Student must attend a participating school. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., and apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident). Requested loan amount must be at least $1,000.

footnote 1. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. Payments may be required during the grace/separation period depending on the repayment option selected. Variable rates may increase over the life of the loan.

footnote 2. Only the borrower may apply for cosigner release. To do so, they must first meet the age of majority in their state and provide proof of graduation (or completion of certification program), income, and U.S. citizenship or permanent residency (if their status has changed since they applied). In the last 12 months, the borrower can’t have been past due on any loans serviced by Sallie Mae for 30 or more days or enrolled in any hardship forbearances or modified repayment programs. In addition, the borrower must have paid ahead or made 12 on-time principal and interest payments on each loan requested for release. The loan can’t be past due when the cosigner release application is processed. The borrower must also demonstrate the ability to assume full responsibility of the loan(s) individually and pass a credit review when the cosigner release application is processed that demonstrates a satisfactory credit history including but not limited to no: bankruptcy, foreclosure, student loan(s) in default or 90-day delinquencies in the last 24 months. Requirements are subject to change.

footnote 3. With Interest Repayment, monthly interest payments are required while the student is enrolled in school, and monthly principal and interest payments begin after the student graduates, no longer meets enrollment requirements, or reaches 60 months in school. With Principal and Interest Repayment, monthly principal and interest payments begin after the first disbursement and continue until the loan is fully repaid.

footnote 4. Advertised APRs for undergraduate students assume a $10,000 loan with a 4-year in-school period, a 6-month grace, and the longest loan term offered. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.

footnote 5. Sallie Mae Parent Loans are for parents or other adults borrowing on behalf of a student who meets enrollment requirements at a participating school and is pursuing an undergraduate or graduate degree, or certificate program. Sallie Mae loans are subject to credit approval, identity verification, acceptance and execution of required loan documents, and school certification. Parent Loan borrowers must be at least the age of majority in their state of residence, otherwise a cosigner is required. Parent Loan borrowers who are not U.S. citizens or U.S. permanent residents must reside in the U.S., borrow on behalf of an eligible student, and apply with a creditworthy cosigner who must be a U.S. citizen or U.S. permanent resident. Requested loan amount must be at least $1,000.

footnote 6. For applications submitted directly to Sallie Mae, loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Applications submitted to Sallie Mae through a partner website will be subject to a lower maximum loan request amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time.

footnote 7. Sallie Mae loans may be offered at a lower rate than PLUS depending on the creditworthiness of the applicant(s). Explore federal loans and compare to make sure you understand the terms and features. Private student loans that have variable rates can go up over the life of the loan. Federal student loans are required by law to provide a range of flexible repayment options, including, but not limited to, income-based repayment and income-contingent repayment plans, and loan forgiveness and deferment benefits, which other student loans are not required to provide. Federal loans generally have origination fees, but are available to students regardless of income.

footnote 8. Based on interest rates applicable at the time of loan origination.

footnote Information advertised valid as of 05/26/2026.

footnote SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION.

footnote Sallie Mae loans are made by Sallie Mae Bank.

Parents, you have flexible ways to fund their college goals