Student Loan Game Plan

Cosigner's Guide to Successful Borrowing

As a cosigner, you are taking on a serious financial obligation. Use the information in the following screens as a game plan to help your borrower prepare for repayment and avoid default.

Your Responsibilities as a Cosigner

As a cosigner, you bear a heavy responsibility.

Your borrower cannot make payments You will be required to take over payments until the borrower can resume payment.
Your borrower misses payments or is late making payments You and the borrower may not qualify for future loans and the loan may be reported to national consumer reporting agencies.
The loan is reported as delinquent to consumer reporting agencies The information may remain on your and the borrower's credit reports up to seven to ten years.

Take action now: Select Next to see common reasons borrowers fail to repay their student loans and ways you can help your borrower succeed financially during and after college.

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Subject to credit approval, loans are made by Iowa Student Loan Liquidity Corporation or Bank of Lake Mills. Bank of Lake Mills does not have an ownership interest in Iowa Student Loan Liquidity Corporation. Bank of Lake Mills is not affiliated with the school you attended or are attending. Bank of Lake Mills is Member FDIC. Loan servicing, including billing and other customer service, will be provided by Aspire Servicing Center.