2 Steps to
Releasing Your Cosigner
1. Qualify for cosigner release
To have your cosigner released from your private student loan:
M Your loan must be a prior CitiAssist Loan that was purchased by Discover.
M You must be at least 18 years of age.
M You must be a US citizen or permanent resident.
M You must have made the required number of consecutive monthly payments on time.
Use this chart to determine the number of required payments.
M Your gross monthly income must be at least $1,500.
M You must have a satisfactory credit history and pass applicable credit criteria.
2. Complete the Cosigner Release Application
M The Cosigner Release Application form must be completed by the borrower, not the cosigner.
M Fax the form and income verification documents (if required) to us at 1-801-996-2532 or mail to us:
Discover Student Loans
PO Box 30948
Salt Lake City, UT 84130-0948
We will mail you an approval or denial letter within 30 days of receiving your Cosigner Release Application.
DSLCRC414
LOAN TYPE LOAN APPROVAL PERIOD
REQUIRED CONSECUTIVE
MONTHLY PAYMENTS
Private Consolidation Loans Prior to 2/1/2012 36
Private Student Loans Prior to 4/1/2000 24
Private Student Loans Between 4/1/2000 and 12/31/2007 48
Private Student Loans Between 1/1/2008 and 1/31/2012 24
Private Student Loans On or after 2/1/2012 Not Eligible
Private Student Loans
for the University of Notre Dame
and Columbia University
Prior to 2/1/2012 24
9. E-mail Address
10. Citizenship (check only one)
US Citizen Permanent Resident
(Must be a U.S. Citizen or Permanent Resident to apply for cosigner release)
Section A. Borrower Information (Please use black or blue ink, and do not use correction fluid.)
4. Permanent Home Street Address (No PO Box)
City State ZIP Code
Cosigner Release Application
“You” refers to the Borrower and “we” or “us” refers to Discover Bank.
This is an application to release the cosigner for any and all of your existing student
loans with us that were prior CitiAssist Loans purchased by Discover and for which
you have made the minimum number of consecutive monthly payments and meet all
other stated eligibility requirements, as of the date you sign this application:
This application to release the cosigner is not effective for: (1) any of your student
loans with us on which you did not make the required number of minimum
consecutive monthly payments as outlined above, or (2) any of your student loans
originated on or after 2/1/2012. Such loans will not be included in our review of
this application.
You authorize Discover Bank to check and investigate the information you have provided on this application, including, but not limited to, obtaining a credit report from one or more
consumer credit reporting agencies. If we release your cosigner, you promise to pay us all sums that are due plus interest and all other charges that may become due as provided for by your
promissory note. By signing this form, you confirm that the information provided above is true and complete to the best of your knowledge and belief.
21. Signature of Borrower 22. Date
/ /
MM DD YYYY
7. Monthly Housing Payment
$
6. Do You (check one):
Own
Rent Other
5. Time at Current Address
Year(s)
Month(s)
13. Employment Status
Full Time
Self Employed
Part Time
Unemployed
11. Employer
12.
Employer Phone Number
(including area code)
- -
1. Last Name First Name MI
3. Social Security Number
- -
2. Date of Birth
/ /
MM DD YYYY
Section B. Borrower Signature
14. Employer Address
City State ZIP Code
16. Length of Employment
Year(s)
Month(s)
17. If less than two years, list previous Employer
15.
Current Position
Please mail completed form to: Discover Student Loans • PO Box 30948 • Salt Lake City, UT 84130-0948
Or fax to: 1-801-996-2532
DSLCRA614
Land Line
Mobile
Primary Phone Number
(include area code)
- -
Alternate Phone Number (include area code)
- -
Land Line
Mobile
8. Phone Consent
By providing your phone numbers, you agree that Discover, its affiliates and agents may call you at these numbers. If this is a
cell phone number, you agree that we may contact you using an automatic dialer, including pre-recorded messages and/or text
messages, even if your cell phone provider may charge you for calls according to your current plan.
In addition, by selecting “Yes” below and signing this application, you consent to receive offers and promotions on products and
services using any means as described above.
Yes
No
This form must be completed by the borrower, not the cosigner.
LOAN TYPE LOAN APPROVAL PERIOD
REQUIRED CONSECUTIVE
MONTHLY PAYMENTS
Private Consolidation Loans Prior to 2/1/2012 36 months
Private Student Loans Prior to 4/1/2000 24 months
Private Student Loans Between 4/1/2000 and 12/31/2007 48 months
Private Student Loans Between 1/1/2008 and 1/31/2012 24 months
Private Student Loans
for the University of Notre Dame
and Columbia University
Prior to 2/1/2012 24 months
18.
Total Gross Income
$
Annual
Monthly
You do not need to reveal alimony, child support
or maintenance if you do not wish to have it
considered as a basis for loan repayment.
19. How much of your Total Gross Income includes non-taxable income, such as:
Social Security, certain military income, worker’s compensation, welfare
benefits, disability or child support payments?
$
Annual
Monthly
