Can a cosigner refinance a student loan?

By Willa Tellekson-Flash | Published on May 27, 2026

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Cosigning a student loan is a meaningful way to help someone pay for school—but it also creates a shared financial obligation. As a cosigner, you're just as legally responsible for the loan as the borrower. If they can’t make payments, you’re on the hook. That can complicate things down the line, especially if your financial situation changes or your relationship with the borrower evolves.

In some cases, it might feel easier to just take over the loan completely. At Earnest, that’s something you can actually do.

Yes, cosigners can refinance a student loan—at least with some lenders

Most lenders only allow the primary borrower to apply for student loan refinancing. But Earnest gives cosigners the option to refinance the loan into their own name. This isn’t a standard offering in the industry, but it can be helpful if:

• You’re planning to repay the loan anyway and want to simplify things
• The borrower is unresponsive or unwilling to refinance
• You want to remove the borrower from the obligation and take full ownership

Once approved, the new refinanced loan replaces the original one—and you become the sole borrower.

What it means to refinance as a cosigner

When you refinance a student loan as a cosigner, you’re not removing yourself from the loan—you’re assuming it completely.

The refinanced loan is issued in your name alone. The borrower is no longer involved, and you take on 100% of the legal responsibility for repayment. The original loan is paid off and closed.

The payment history from the original loan may still appear on both your and the borrower’s credit reports for a time, but only you are tied to the new loan.

Why not use a cosigner release program?

Earnest offers a cosigner release program designed for situations where the primary borrower is ready to take full, independent responsibility for the debt. When a borrower qualifies for a cosigner release, you (the cosigner) are completely removed from the contract, leaving the primary borrower 100% responsible for repayment. Crucially, a cosigner release keeps the exact same interest rate and loan terms intact.

Why might you choose to refinance as a cosigner instead? While a cosigner release removes you from the loan, refinancing as a cosigner does the exact opposite: it completely removes the primary borrower. This is an ideal path if you want to take total control of the debt, or if the primary borrower is unable or unwilling to initiate a release application.

Furthermore, because refinancing creates an entirely new loan contract, it allows you to fully customize the repayment terms. You may be able to choose a shorter term to crush the debt quickly, extend the timeline to lower your immediate monthly payments, or lock in a better interest rate based on your personal credit profile.

How to get started

If you’re considering refinancing as a cosigner, you must meet certain criteria. But the process is similar to any other refinance application:

• You’ll apply as an individual borrower
• Your credit, income, and debt-to-income ratio will be reviewed
• If approved, the loan is issued in your name and pays off the original

This puts you in full control of repayment—and could help you qualify for a lower rate or more manageable terms in the process.

Bottom line

Refinancing a student loan as a cosigner isn’t an option with every lender—but it is with Earnest. If you’re ready to take over a cosigned loan and become the sole borrower, refinancing can help you simplify the responsibility and move forward on your own terms.

Want to refinance as a cosigner? You can check your rate in minutes—with no impact to your credit score.

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About the Author

Willa Tellekson-Flash

Willa Tellekson-Flash is a freelance writer and product marketer specializing in finance and technology. With 10 years of experience, she focuses on making complex personal finance topics accessible and empowering for all audiences. When she’s not writing, you'll likely find her training for her next marathon.

Disclaimer

This blog post provides personal finance educational information, and it is not intended to provide legal, financial, or tax advice.