Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Student Loans
Profile Image

Question By
Lizzy2003

0 Contributions
0 People Helped
Daughters student loan on my report
In order for my daughter (who was 24 at the time) to get a student loan, I had to submit my income info to FAFSA. She is a responsible adult and I do not have to worry about her paying it back, but it is still on my credit report. How can I go about getting it off my report since it is her loan? The balance right now is less than $4,000.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
43 Contributions
807 People Helped
Most Helpful Response

Helpful to 1 out of 2 people

You will need to contact the lender and work out with them what needs to happen to get you off as a co-signer, co-applicant, or co-authorized user.  This can vary place to place.

It is more-than-likely your daughter will need to refinance the remaining balance as a sole applicant to essentially close the old loan and open up a new loan under just her name.  But again, this can vary by lender.

However, some lenders will let your daughter submit documentation of stable residence, income, and/or credit history and can then take you off the loan if your assistance for the loan backing is no longer needed.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.