Dear Quentin, My dad cosigned for my private Sallie Mae student loan in September 2018. I thought it was a federal loan because I believe they did both types of loans. I started paying back the $153,000 interest-only loan in September 2022, while my dad paid towards the principal and the balance increased. They removed the interest-only repayments after several calls were made regarding the balance not being reduced.
My dad is trying to buy a new house, and Sallie Mae will not take him off the loan even though they said he only had to remain as the cosigner for the first 12 months after I had to start making payments. Sallie Mae never gave us any documentation stating this. This student loan is preventing him from acquiring a mortgage loan. What are our and his options? Former Student and Worried Son Also see: My sister owns properties in Hawaii, yet refuses to make a will. If she dies, will our half-sibling inherit anything?
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My dad is trying to buy a new house, and Sallie Mae will not take him off the loan even though they said he only had to remain as the cosigner for the first 12 months after I had to start making payments. Sallie Mae never gave us any documentation stating this. This student loan is preventing him from acquiring a mortgage loan. What are our and his options? Former Student and Worried Son Also see: My sister owns properties in Hawaii, yet refuses to make a will. If she dies, will our half-sibling inherit anything?
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