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Sallie Mae Cosigner Release Application
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I, the borrower, request to have the cosigner(s) listed on page 2 of this application released from his/her obligation on my
eligible student loan(s). I understand that:
• Approval of my request is at the sole discretion of Sallie Mae Bank, its affiliates and subsidiaries, and their
successors and assigns (collectively, “Sallie Mae”).
• My request will only be considered if:
o I submit a completed application, including my signature on page 2 of the application.
o I meet the age of majority requirements in my state of residence (am old enough to enter into a legally
binding contract, which is 18 years of age in all states except Alabama (19), Mississippi (21), Nebraska
(19), and Puerto Rico (21)).
o I provide proof of graduation or completion of certification program (a copy of my diploma and/or my
transcript for the loan(s) on which cosigner release is requested). Do not send original copies as they will
not be returned.
o I am a U.S. citizen or permanent resident at the time my request is submitted. If my citizenship status has
changed since I applied for the loan(s) in question, I am providing proof of citizenship.
o I provide proof of my income (e.g. most recent W2, most recent tax return, printed paystub within the past
90 days, SSI or Disability award letters).
o All of my Sallie Mae serviced loans are current and have been current for the past 12 months immediately
before applying.
o I have demonstrated a satisfactory payment history on each loan requested for release immediately
before applying by paying ahead an amount equal to the required 12 principal and interest payments, or
by making the required 12 on-time principal and interest payments. Interest or fixed payments made
during the in-school and separation period(s) do not count towards this requirement.
o I have had no student loan(s) currently in a hardship forbearance or modified repayment program
(including Graduated Repayment Period) for the past 12 months immediately before applying.
• Sallie Mae will obtain my credit report to utilize along with this application. When the cosigner release application
is processed, I must:
o Demonstrate the ability to assume full responsibility for repayment of the loan(s) individually.
o Pass a credit review that demonstrates a satisfactory credit history including but not limited to no: open
bankruptcy, open foreclosure, student loan(s) in default, or 90 day delinquencies in the last 24 months.
• I may need to submit additional information for your evaluation.
• I am providing my permission to Sallie Mae to share the decision on this application with my cosigner(s).
• If I am approved and if my cosigner is currently enrolled in the auto debit payment plan, the loan will be removed
from the program at the end of the billing period in which the release request is approved.
• By releasing my cosigner(s), Sallie Mae is not releasing me from my loan obligation(s). I am hereby ratifying my
loan obligation(s) freely, voluntarily, and without duress in exchange for Sallie Mae’s agreement to release my
cosigner(s). In doing so, I agree to comply with and fulfill all of my obligations under the Promissory Note(s) of my
loan(s).
Note: Requirements are subject to change.