We’ve Paid Enough as Cosigners on My Sons Sallie Mae Student Loans – Rose


Dear Steve,

We are co signers for our son on his Sallie Mae loan. We have paid MOST of it for him. Now the rest is his. He has a teaching job but starting at the bottom. He said he spoke to the Leander and they are working on it with him. But every day the Leander calls me 5 to 6 times.

Can he have me removed from his loan. He is trying. Just not enough money to go around..thank you,



Dear Rose,

I’m assuming these are private student loans. The big problem with co-signing is unless the lender is willing to release you from the loan, you will remain 100% responsible for the loan. If they are calling you that often it indicates to me the loans are delinquent or past due.

This will negatively impact your credit report as the co-signer.

If the loans get too delinquent and default, huge penalties and accrued interest can be added to the balance.

Frankly, it would be far better for you to help your son with payments at this time to protect your credit score and keep these out of default.

According to Salle Mae, here is the cosigner release requirements. I think this is going to be the issue that prevents them from releasing you, “Be current on all Sallie Mae serviced loans for the past 12 months immediately before applying.”

I would go into this release effort assuming they are not going to release you. So it is imperative that you and your son come to some combined solution to prevent these loans from falling further past due.

The biggest issue with cosigners is many people believe they simply helped the student to qualify for the loans and never realized they are entirely responsible for any balance due.


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Steve Rhode

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