What is a cosigner?
A cosigner is someone who supports your loan application. If you cannot repay your loan in the future, your cosigner agrees to make the repayments for you. Your cosigner is usually a parent, guardian, relative or close family friend.
Your cosigner does not need to pay for your studies. They are simply helping you by backing your application.
Your cosigner must:
- Be a citizen of Australia or New Zealand (or sometimes a permanent resident)
- Be over 21 years old
- Have a regular income and 3+ years of good credit history
- Understand and agree to their responsibilities under the loan
Why do I need a cosigner?
Because most students do not have full-time jobs or a long credit history, a cosigner helps us provide loans in a safe and fair way. By including a cosigner, we can offer:
Better loan conditions
Lower interest rates
A chance to apply
(without a source of income)
How the cosigner application process works
You complete your loan application
At the end of your form, we’ll ask for your cosigner’s name, email address and phone number.
Your cosigner gets a secure email link
After you submit your application, your cosigner will receive an email with a link to fill out their own short form (it takes about 10-15 minutes).
We assess your joint application
We will look at both your applications - yours and your cosigner’s - and assess them as a pair.
You both upload documents
If conditionally approved, we will ask you both to upload documents (e.g. passports, university offer letter, cosigner proof of income).
You both sign the loan agreement
If approved, you will both receive the loan contract by email to sign digitally
Documents You Will Need:
To ensure your application is processed quickly and smoothly, you and your cosigner will need to provide the following documents:
Primary Applicant:
Copy of Passport
University Offer Letter
Cosigner:
Copy of Passport
Bank statements (most recent 3 months)
Payslips (most recent 2 months)
Proof of any additional income other than assets
Proof of IELTS (or equivalent test) score of 6.5 or higher
How the cosigner application process works
Your cosigner should understand that:
- They are entering a legal agreement
- If you cannot repay the loan, they will need to make payments
- The loan will appear on their credit record
- It may affect their ability to borrow in the futureThey will receive updates about the loan (like statements or reminders)
