You might find it difficult to qualify for student loan refinancing if your income is low. But options exist that can help you meet this lender requirement.
Adding a cosigner can help low-income borrowers qualify for refinancing if you don’t otherwise meet a lender’s requirements. But it’s not the perfect solution for all, and it’s important to understand what getting a cosigner would entail.
Your cosigner generally has to show that they have adequate credit and income to qualify This is because the cosigner is agreeing to be on the hook for payments, should you stop making them. So asking someone to cosign on a loan or when refinancing is no small thing.
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