Can I Really Get Out of My Navient Student Loans I Cosigned?


Dear Steve,

My daughter started college in 2004. I cosigned her private loans for 2004 and 2005 for $10,000 each then I stopped cosigning. She went on her own from there.

She has been unable to pay and went int default a few times. I keep trying to get her to deal with her loans, but she keeps failing to pay.

She renegotiates the loans and I have no say in what happens. She is not even paying the interest. Now the loans that I co-signed doubled in the balance due.

I am paying the payments on these loans now, because my daughter is in financial trouble “again”. I want to retire without this hanging over my head. I’m 66 years old.

Can I complain to for help to get Navient to settle the co-signed loans before I retire? If I can, what is the best way to complain? Otherwise, do I have to stop paying and then try to settle?



Dear Carol,

This same issue has happened to so many people. When you cosign you have 100 percent of the liability and none of the control. I’m assuming these are private student loans since you actually cosigned. Federal student loans don’t use cosigners anymore.

So if these truly are private student loans then Navient does have a “secret” option of negotiating a settlement of the total loan or just the cosigner responsibility. The amount to settle the cosigner and the entire loan is typically a few percent more of the total debt.

The bottom line is if you are not that fond of your daughter then settle the cosigner obligation. If you don’t want to abandon your daughter in this mess, then settle the entire loan.

There are people who specialize in just such situations and have very good success in getting this done.

I’m not sure what you’ve got to complain about. You’ve said you did cosign the loan and that your daughter has not been consistent in making the payments.

See also  My Grandfather Cosigned for My Car And I Can't Make The Payments. - Martin

The better option would be to work with a professional who knows about dealing with this specific situation and has a successful track record.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

Damon Day - Pro Debt Coach

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