Cosigner Release Benefit

Some private student loans serviced by Aspire Servicing Center offer a cosigner release benefit during the principal and interest repayment period. This allows borrowers to have their cosigners released from their obligation to repay the loans. Only borrowers may apply for this benefit.

To qualify for the cosigner release:

  1. The correct number and type of consecutive, on-time payments under the Standard (level) Repayment Plan must be submitted. See Requirements tables below for details.
  2. The borrower must download, complete and submit the Cosigner Release Application (PDF).
  3. The borrower must meet the underwriting criteria. This includes the income and FICO score required for the loan at the time the borrower applied for the loan. See Requirements tables below for details.

Note: Borrowers will be disqualified from this benefit for using an economic hardship deferment, bankruptcy forbearance or collection suspension forbearance to temporarily stop making payments or for using an alternative repayment plan.

Requirements

To release your cosigners from their obligations, you first must:

  • Have made the required number and type of consecutive monthly principal and interest payments on time during the installment period (as defined as the Principal and Interest Repayment Period in your credit agreement). Payments made prior to entering the installment period, required interest-only payments during the initial in-school period or required set payments during the Residency Period do not qualify. Details regarding required payments for different loan programs are provided in the following tables.
    • Note: If you have multiple loans, each loan may have different requirements to release your cosigners from their obligations. These different requirements may be related to the number of payments that must be received and if the payments must be first payments.
    • To be considered on time, a payment must be received by our office no later than five (5) business days past the due date.

In addition, you must meet income and FICO score requirements, which are also detailed in the following tables, as well as certain underwriting criteria. Two credit inquiries may be needed if you applied for loans prior to and after November or December 2022 as the FICO score model used for underwriting changed at that time.

Program-Specific Requirements

The following tables detail the number and type of payments required as well as the minimum annual income and FICO score requirements at the time of application.

Note: The information provided here is general. Refer to your credit agreement for details on the requirements specific to your loan. The date you submitted your application is not the same as the disbursement date of the loan.

Cosigner release information for the Partnership Advance Education Loan (ISL Private).
Partnership Advance Education Loan (ISL Private)
Date Application Submitted Payments Required Minimum Income Required Minimum FICO Score Required
November 2011–April 20141 48 consecutive, on-time monthly payments $25,000 6702
April 2014–April 2015 First 24 consecutive, on-time monthly payments $25,000 6703
April 2015–August 2017 First 24 consecutive, on-time monthly payments $25,000 Varies4
August 2017–November 2022 First 24 consecutive, on-time monthly payments N/A Varies5
November 2022–today First 24 consecutive, on-time monthly payments N/A Varies6
  • 1 Only variable-rate Partnership Advance Education Loans were eligible for the cosigner release from November 2011 to January 2012. Fixed-rate loans were eligible beginning in February 2012. Back to content
  • 2 The TransUnion FICO Score 4 was used to determine the qualifying credit score for your loan. Your current TransUnion FICO Score 4 must meet the minimum requirement. Back to content
  • 3 The TransUnion FICO Score 4 was used to determine the qualifying credit score for your loan. Your current TransUnion FICO Score 4 must meet the minimum requirement. Back to content
  • 4 Your lender offered different rates based on your or your cosigner's FICO score. This means your current TransUnion FICO Score 4 must equal or exceed the minimum score that dictated your loan's rate. Back to content
  • 5 Your lender offered different rates based on your or your cosigner's FICO score. This means your current TransUnion FICO Score 4 must equal or exceed the minimum score that dictated your loan's rate. Back to content
  • 6 Your lender offered different rates based on your or your cosigner's FICO score. This means your current TransUnion FICO Score 8 must equal or exceed the minimum score that dictated your loan's rate. Back to content
Cosigner release information for the Illinois Partnership Loan Program (ISL Private).
Illinois Partnership Loan Program (ISL Private)
Date Application Submitted Payments Required Minimum Income Required Minimum FICO Score Required
May 2023–today First 24 consecutive, on-time monthly payments N/A Varies1
  • 1 Your lender offered different rates based on your or your cosigner's FICO score. This means your current TransUnion FICO Score 8 must equal or exceed the minimum score that dictated your loan's rate. Back to content
Cosigner release information for the Suite of Reset Refinance Loans (ISL Private).
Suite of Reset Refinance Loans (ISL Private)
This includes the Reset Refinance Loan, Reset Refinance Loan for Medical and Dental Professionals, Reset Refinance Loan for Medical Residents, and Reset Refinance Loan for In-School Borrowers.
Date Application Submitted Payments Required1 Minimum Income Required Minimum FICO Score Required
October 2019–December 2022 First 24 consecutive, on-time monthly payments N/A Varies2
December 2022–today First 24 consecutive, on-time monthly payments N/A Varies3
  • 1 Required $75 monthly payments during the Residency Period for the Reset Refinance Loan for Medical Residents do not count toward on-time monthly payments. Payments made after the Residency Period and during the Principal and Interest Repayment Period do qualify for the on-time monthly payments. Back to content
  • 2 Your lender offered different rates based on your or your cosigner's FICO score. This means your current TransUnion FICO Score 4 must equal or exceed the minimum score that dictated your loan's rate. Back to content
  • 3 Your lender offered different rates based on your or your cosigner's FICO score. This means your current TransUnion FICO Score 8 must equal or exceed the minimum score that dictated your loan's rate. Back to content
Cosigner release information for the Reset Consolidation Loan (ISL Private).
Reset Consolidation Loan (ISL Private)
Date Application Submitted Payments Required Minimum Income Required Minimum FICO Score Required
July 2014–October 2014 24 consecutive, on-time monthly payments $25,000 7001
November 2014–January 2015 24 consecutive, on-time monthly payments $25,000 7202
  • 1 The TransUnion FICO Score 4 was used to determine the qualifying credit score for your loan. Your current TransUnion FICO Score 4 must meet the minimum requirement. Back to content
  • 2 The TransUnion FICO Score 4 was used to determine the qualifying credit score for your loan. Your current TransUnion FICO Score 4 must meet the minimum requirement. Back to content
Cosigner release information for the Alliant Credit Union and Health Services Credit Union Private Student Loan — AIM Credit Union.
Alliant Credit Union and Health Services Credit Union Private Student Loan — AIM Credit Union
Date Application Submitted Payments Required Minimum Income Required Minimum FICO Score Required
July 2009–April 2012 24 consecutive, on-time monthly payments $15,000 N/A
April 2012–February 2022 24 consecutive, on-time monthly payments $25,000 6701
  • 1 The TransUnion FICO Score 4 was used to determine the qualifying credit score for your loan. Your current TransUnion FICO Score 4 must meet the minimum requirement. Back to content
Cosigner release information for the Alliant Credit Union — AIM Credit Union — (Unified Consolidation Loan).
Alliant Credit Union — AIM Credit Union — (Unified Consolidation Loan)
Date Application Submitted Payments Required Minimum Income Required Minimum FICO Score Required
August 2014–February 2022 24 consecutive, on-time monthly payments $25,000 7001
  • 1 The TransUnion FICO Score 4 was used to determine the qualifying credit score for your loan. Your current TransUnion FICO Score 4 must meet the minimum requirement. Back to content
Cosigner release information for the American State Bank Private Student Loan.
American State Bank Private Student Loan
Date Application Submitted Payments Required Minimum Income Required Minimum FICO Score Required
May 2011–April 2012 36 consecutive, on-time monthly payments $15,000 N/A
April 2012–January 2023 36 consecutive, on-time monthly payments $25,000 N/A
January 2023–today 36 consecutive, on-time monthly payments N/A N/A
Cosigner release information for the Arkansas Education Loan.
Arkansas Education Loan
Date Application Submitted Payments Required Minimum Income Required Minimum FICO Score Required
January 2019–December 2022 48 consecutive, on-time monthly payments N/A Varies1
December 2022–today 48 consecutive, on-time monthly payments N/A Varies2
  • 1 ASLA offered different rates based on your or your cosigner's FICO score. This means your current TransUnion FICO Score 4 must equal or exceed the minimum score that dictated your loan's rate. Back to content
  • 2 ASLA offered different rates based on your or your cosigner's FICO score. This means your current TransUnion FICO Score 8 must equal or exceed the minimum score that dictated your loan's rate. Back to content
Cosigner release information for the Arkansas Family Education Loan.
Arkansas Family Education Loan
Date Application Submitted Payments Required Minimum Income Required Minimum FICO Score Required
January 2019–December 2022 48 consecutive, on-time monthly payments N/A Varies1
December 2022–today 48 consecutive, on-time monthly payments N/A Varies2
  • 1 ASLA offered different rates based on your or your cosigner's FICO score. This means your current TransUnion FICO Score 4 must equal or exceed the minimum score that dictated your loan's rate. Back to content
  • 2 ASLA offered different rates based on your or your cosigner's FICO score. This means your current TransUnion FICO Score 8 must equal or exceed the minimum score that dictated your loan's rate. Back to content
Cosigner release information for the Arkansas Refinance Education Loan.
Arkansas Refinance Education Loan
Date Application Submitted Payments Required Minimum Income Required Minimum FICO Score Required
January 2019–December 2022 48 consecutive, on-time monthly payments N/A Varies1
December 2022–today 48 consecutive, on-time monthly payments N/A Varies2
  • 1 ASLA offered different rates based on your or your cosigner's FICO score. This means your current TransUnion FICO Score 4 must equal or exceed the minimum score that dictated your loan's rate. Back to content
  • 2 ASLA offered different rates based on your or your cosigner's FICO score. This means your current TransUnion FICO Score 8 must equal or exceed the minimum score that dictated your loan's rate. Back to content
Cosigner release information for the Ascentra Credit Union Private Student Loan Program.
Ascentra Credit Union Private Student Loan Program
Date Application Submitted Payments Required Minimum Income Required Minimum FICO Score Required
May 2009–April 2012 24 consecutive, on-time monthly payments $15,000 N/A
April 2012–May 2016 24 consecutive, on-time monthly payments $25,000 6701
May 2016–January 2021 24 consecutive, on-time monthly payments $25,000 Varies2
  • 1 The TransUnion FICO Score 4 was used to determine the qualifying credit score for your loan. Your current TransUnion FICO Score 4 must meet the minimum requirement. Back to content
  • 2 Ascentra Credit Union offered different rates based on your or your cosigner's FICO score. This means your current TransUnion FICO Score 4 must equal or exceed the minimum score that dictated your loan's rate. Back to content
Cosigner release information for the Capitol View Credit Union's Private Student Loan Program.
Capitol View Credit Union's Private Student Loan Program
Date Application Submitted Payments Required Minimum Income Required Minimum FICO Score Required
April 2012–March 2015 48 consecutive, on-time monthly payments $25,000 6701
  • 1 The TransUnion FICO Score 4 was used to determine the qualifying credit score for your loan. Your current TransUnion FICO Score 4 must meet the minimum requirement. Back to content
Cosigner release information for the Dupaco's Extra Credit Student Loan Program.
Dupaco's Extra Credit Student Loan Program
Date Application Submitted Payments Required Minimum Income Required Minimum FICO Score Required
April 2011–April 2012 48 consecutive, on-time monthly payments $15,000 N/A
April 2012–July 2015 48 consecutive, on-time monthly payments $25,000 6701
July 2015–June 2017 48 consecutive, on-time monthly payments $25,000 Varies2
  • 1 The TransUnion FICO Score 4 was used to determine the qualifying credit score for your loan. Your current TransUnion FICO Score 4 must meet the minimum requirement. Back to content
  • 2 Dupaco Community Credit Union offered different rates based on your or your cosigner's FICO score. This means your current TransUnion FICO Score 4 must equal or exceed the minimum score that dictated your loan's rate. Back to content
Cosigner release information for the LelaCHOICE Student Loan.
LelaCHOICE Student Loan
Date Application Submitted Payments Required Minimum Income Required Minimum FICO Score Required
July 2020–January 2023 First 24 consecutive, on-time monthly payments N/A Varies1
January 2023–today First 24 consecutive, on-time monthly payments N/A Varies2
  • 1 Lela offered different rates based on your or your cosigner's FICO score. This means your current TransUnion FICO Score 4 must equal or exceed the minimum score that dictated your loan's rate. Back to content
  • 2 Lela offered different rates based on your or your cosigner's FICO score. This means your current TransUnion FICO Score 8 must equal or exceed the minimum score that dictated your loan's rate. Back to content
Cosigner release information for the Veridian Private Student Loan.
Veridian Private Student Loan
Date Application Submitted Payments Required Minimum Income Required Minimum FICO Score Required
July 2013–May 2014 36 consecutive, on-time monthly payments $25,000 7201
May 2014–May 2016 36 consecutive, on-time monthly payments $50,000 Varies2
  • 1 The TransUnion FICO Score 4 was used to determine the qualifying credit score for your loan. Your current TransUnion FICO Score 4 must meet the minimum requirement. Back to content
  • 2 Veridian Credit Union offered different rates based on your or your cosigner's FICO score. This means your current TransUnion FICO Score 4 must equal or exceed the minimum score that dictated your loan's rate. Back to content

Additional Underwriting Criteria

To release your cosigners from their obligations, you must meet the underwriting and credit criteria, including the income and FICO score requirements listed above, for the loan at the time it was applied for. This means you must have:

  • Monthly payments for approved credit (mortgages, rent, car loans, credit cards and other forms of credit) that do not exceed 40% of gross monthly income (if a mortgage or rent is not included, debt-to-income ratio cannot exceed 25%). All student loan debt will be treated as though it is in repayment.1
  • Continuous employment over the last two years. (This requirement may be waived for retirees, disabled persons or those receiving a verified income.)2
  • No more than two accounts reporting 30-day delinquencies and no delinquencies of 60 days or more during the previous two years.
  • No charge-offs, repossessions, collection accounts, judgments, foreclosures, garnishments by credit providers or tax liens.
  • No previous bankruptcies.
  • Not defaulted on any private or government student loan.

Note: This list of criteria may not be exhaustive. Your lender may require you to meet additional criteria in order to qualify for a cosigner release. Your lender reserves the right to change the list of criteria in any way from time to time.

  • 1 For the Reset Refinance Loan, borrowers with a mortgage who earn greater than or equal to $100,000 per year must have monthly payments for approved credit (mortgages, rent, car loans, credit cards and other forms of credit) that do not exceed 45% of gross monthly income. For the Partnership Advance Education Loan and College Family Loan, certain borrowers must either pay a mortgage or rent and have a debt-to-income ratio of 34% or less or not pay a mortgage or rent and have a debt-to-income ratio of 19% or less. Back to content
  • 2 This is not a requirement for the suite of Reset Refinance Loans. Back to content