Sallie Mae Cosigner Release Application

Sallie Mae Cosigner Release Application

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I, the borrower, request to have the cosigner(s) listed on my eligible student loan(s) released from obligation. I understand that:

? Approval of my request is at the sole discretion of Sallie Mae Bank, its affiliates and subsidiaries, and their successors and assigns (collectively, "Sallie Mae").

? Sallie Mae will obtain my consumer report to utilize along with this application to determine whether I can pass a credit review that demonstrates a satisfactory credit history and the ability to assume full responsibility of the loan(s) individually.

? Sallie Mae has my permission to share the decision on this application with my cosigner(s).

? I am providing proof of graduation or successful completion of certification program, which includes a copy of my diploma and/or my transcript for the loan(s) on which cosigner release is requested. I understand I should not send my original diploma because the documentation submitted will not be returned to me.

? I am providing proof of my income (i.e., a copy of a recent paystub or a W-2 or my most recent tax return if I am self-employed).

? I may need to submit additional information for your evaluation.

? My request will only be considered if:

o I have demonstrated a satisfactory history of making the required 12 consecutive, on-time payments of principal and interest immediately before applying.

o I have no student loan(s) in default.

o I have not been reported as 90+ days delinquent in the past 24 months.

o I have no student loan(s) currently in a hardship forbearance or modified repayment program.

o My account is not delinquent immediately before applying.

? I must meet age of majority requirements in my state of residence (be old enough to enter into a legally binding contract).

? I must be a U.S. citizen or permanent resident at the time my request is processed. If my citizenship has changed since I applied for the loan(s) in question, I will provide proof of citizenship.

? By releasing my cosigner(s), Sallie Mae is not releasing me from my loan obligation(s). If I was not of the age of majority in my state of residence when the loan(s) was entered into, I am hereby ratifying my loan obligation, freely, voluntarily, and without duress, in exchange for your agreement to release my cosigner(s). In doing so, I agree to comply with and fulfill all of my obligations under my loan's Promissory Note.

? I may be contacted at any of the phone numbers listed below.

Note: Requirements are as of October 13, 2014, and are subject to revision.

6663

Sallie Mae Cosigner Release Application

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Please complete the following information, and return all documentation to us via fax: 844-822-1121, mail: Sallie Mae, P.O. Box 3319, Wilmington, DE 19804-4319, or online at : log in to your account and select the Secure Document upload link located on the Forms page.

Borrower Name:

Date of Birth:

SSN or Account Number:

Address:

Employer's Name:

Start Date (MM/YY):

Position:

Work #:

Home #:

Cell #:

Gross Annual Salary: $

Additional Income*: $

Source*:

*Alimony, child support, or separate maintenance income need not be revealed if you do not wish to have it considered as

a basis for repaying this obligation.

Monthly Housing Payment:

$

Monthly Car Payment(s):

$

Monthly Student Loan Payment(s):

$

Other Monthly Payments (please specify): $

Are you a U.S. citizen or permanent resident?

Yes

No

If you were a foreign student at the time you applied for your student loan(s) and have since become a U.S. citizen or

permanent resident, please provide documentation stating such.

Have you included a copy of your diploma or transcript, as requested above? Have you included proof of income, as requested above? Have you included proof of citizenship, as requested above (if applicable)?

Yes

No

Yes

No

Yes

No

Cosigner Name(s):

1.

4.

2.

5.

3.

6.

I declare that the information provided above is true and complete to the best of my knowledge and belief. I understand and agree that you may obtain a consumer report in connection with this request. I understand and agree that you have my permission to share the decision of this application with my cosigner(s).

Borrower Signature

Date

6663

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