Do I need a cosigner for a private loan?

Private student loans are credit-based, which means through our partnership with Sallie Mae®, they will check the applicant’s credit when submitting an application. While not required, applying for a Sallie Mae® Smart Option Student Loan® with a cosigner may help the chances for approval. A cosigner is someone who shares responsibility with the student for paying back the loan and is often a parent but can be any creditworthy adult who is a U.S. citizen or U.S. permanent resident.