One of my student loans has a co-signer(s) – Sallie Mae (non-relatives)
I haven’t pay this loans because of financial hardship so they have been paying for me.
Can Sallie Mae remove these co-signers from my student loan and put another person instead? I asked before and Sallie Mae told me that there is nothing I can do to remove their names from my loan.
They have been told that I can request this change but I doubt it…. Is this true?
They can certainly request the change but I would seriously doubt it will happen. In order to replace the co-signer, most likely the loan would be to be paid off and replaced with a new loan or Sallie Mae would have to approve of a suitable co-signer with equal or better credit to replace the current party responsible. I’m not even sure if Sallie Mae has such a process for that.
You’ve got nothing to lose by letting your current co-signers try to work this out with Sallie Mae directly.
Please post your responses and follow-up messages to me on this in the comments section below.