What is a cosigner?
Cosigner: A cosigner is a person who signs a loan with the borrower and agrees to repay it if the borrower does not. The loan appears on both people's credit reports.
Some lenders allow a cosigner, whose credit and income they review alongside yours. This can change what you are offered, but it is not allowed by every lender.
Cosigning is a serious commitment: late payments affect the cosigner's credit, and the cosigner can be asked to pay the full balance.
When you compare offers
If you are considering a cosigner, check whether the lender allows one and whether it offers a way to release the cosigner later.
Related guides
- Personal Loans for Fair Credit: What to Know
What "fair credit" commonly means, what partners may look at beyond your score, and why personal loan rates and terms can vary so much.
- What to Know Before Refinancing Student Loans
How student loan refinancing works, what you give up when you refinance federal loans, and the details worth comparing before you switch to a private lender.
This glossary is for general educational purposes and isn't financial, legal or insurance advice. Lendara is not a lender and does not make credit decisions. Lendara is a free online marketplace that connects you with participating lenders and providers, who set their own eligibility rules, rates, fees and terms. Lendara may receive compensation from partners, which may affect which offers appear and their order.