How can students add a co-borrower?

Adding a co-borrower to an application is not required but can increase the student's chances of getting approved!

  • Applications with a co-borrower are 24% more likely to be approved.
  • Students could receive a lower interest rate on their loan.
  • 35% of Climb students used co-borrowers.


Co-borrower FAQs

What is a co-borrower?

  • A co-borrower is someone who agrees to sign onto the loan alongside the borrower. If the
    student borrower is unable to make payments on the loan, the co-borrower is responsible for
    making payments.

Who can be a co-borrower?

  • Anyone can be a co-borrower; a spouse, friends or family. However, it’s important
    they know what that responsibility is.

What does a co-borrower need to understand?

  • Co-borrowers must also understand their role in supporting the borrower in getting a loan. When co-borrowers sign onto a loan they will become responsible for the repayment if the borrower is unable to make the payments themselves.


What students need to know:

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