Best Personal Loans That Allow for a Cosigner

Advertiser Disclosure

Student Loan Hero Advertiser Disclosure

Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print to help you understand what you are buying. Be sure to consult with a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time.

Editorial Note: This content is not provided or commissioned by any financial institution. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by the financial institution.


We’ve got your back! Student Loan Hero is a completely free website 100% focused on helping student loan borrowers get the answers they need. Read more

How do we make money? It’s actually pretty simple. If you choose to check out and become a customer of any of the loan providers featured on our site, we get compensated for sending you their way. This helps pay for our amazing staff of writers (many of which are paying back student loans of their own!).

Bottom line: We’re here for you. So please learn all you can, email us with any questions, and feel free to visit or not visit any of the loan providers on our site. Read less

When you are facing a crisis or feeling swallowed by debt, a personal loan may help you pay off bills, get out of a hard financial situation, or pay for much-needed home repairs. However, unless you have a good credit score, many lenders may not approve your loan application.

In these situations, some lenders will allow a cosigner to become involved. This person, who often is a close friend or family member, offers their assets and financial information on the loan application so that you can qualify. However, they also are liable if you default on the loan, so it’s vital that you are sure you can make payments in full and on time.

If you are interested in exploring personal loans that allow for cosigners, you may consider these potential lenders and resources.


LendingTree’s personal loan tool can give you an idea of what kind of loan you qualify for, providing a list of personal loan options from lenders based on your creditworthiness. (Disclosure: Student Loan Hero is an affiliate of LendingTree.) If you don’t qualify for a loan or are interested in loans with better terms, your potential cosigner also can enter their information for a new set of loan options.

Here’s are the best personal loans that allow for a consigner.


LightStream allows potential borrowers to apply for loans with a joint applicant, who can be a spouse, domestic partner or other individual. Applicants with a poor financial history can rely on the income or assets of the joint applicant, or cosigner, to qualify for a loan.

Personal loans, which LightStream allows applicants to use for “almost anything,” range from $5,000 to $100,000. The company is clear that loans only are awarded to applicants with good credit, but bringing a cosigner into the equation can make that achievable.

With few exceptions, LightStream loans can be used for almost any financial need. That means you can pay for a wedding, repair a house, consolidate debt or buy a boat with your loan, as long as you specify the use on your loan application. LightStream loans may not be used to finance an existing LightStream loan, pay for college or related educational expenses, or finance loans used for those purposes. LightStream also doesn’t lend to businesses.

LightStream offers low interest rates on personal loans, with APRs ranging from 3.99% – 16.99% with terms between 24 to 144 months. However, the lender is clear that applicants or cosigners must have good credit. While LightStream doesn’t specify what that means, a credit score above 700 generally is considered good.


  • No fees
  • Low, fixed interest rates
  • Guarantees $100 to borrowers who aren’t satisfied with their loan experience
  • Same-day loan funding


  • Good to excellent credit score required
  • Application triggers a Hard Pull on credit score

LightStream is an excellent choice for applicants or cosigners with a good credit score and solid credit history. With a qualified cosigner, applicants who don’t have outstanding credit can receive a low-interest, no-fee loan they can use for almost anything.


LendingClub offers personal loans up to $40,000 and a quick, online application process. This lender was one of the first to implement peer-to-peer lending, which means that it connects loan applicants directly with individuals or institutions that are interested in lending the money. Without a bank as a middleman, this process saves money and allows LendingClub to offer lower rates.

When you apply for a loan through LendingClub, the lender may recommend that you add a co-borrower to your application to qualify for the loan. A joint application will increase your chances for approval.

The LendingClub loan application process takes about seven days, and it can be completed online — even from your phone. APRs range from 6.95% to 35.89% for loans of either 36 or 60 months, and applicants who typically get the lowest rates have high credit scores, a long history of credit with “significant successful credit lines,” and a low percentage of outstanding debt compared to income.

Applicants applying with a cosigner should select “joint” for their application type, and they then will be prompted to enter information about themselves and their cosigner — including both people’s Social Security numbers.


  • Only a Soft Pull of your credit score is required to determine loan eligibility
  • Fixed monthly payments
  • Fixed interest rates
  • No prepayment penalties
  • No application fee


  • Applications not accepted from residents of Iowa, Guam or Puerto Rico
  • Loan process usually takes seven days or more
  • One-time origination fee of between 1.00% - 6.00% deducted from the loan when it is issued

LendingClub will help you determine whether you need a cosigners and offers an easy way to add a joint applicant to your loan during its online loan application process. While the APRs can be high for applicants with less-than-stellar credit, with a cosigner you could be eligible for much better rates and terms.

Santander Bank, N.A

If you’d like the option to apply for a personal loan in person rather than online (and you live in the Northeast), Santander Bank is one of few brick-and-mortar financial institutions that offer cosigned loans. Santander Bank provides loans between $5,000 and $50,000 that can be used for anything from debt consolidation to emergency car repairs. These loans, however, cannot be used for secondary-educational purposes.

You can start your application online, but you’ll need to complete your paperwork at one of Santander Bank’s 600 branches. When you apply for a personal loan, you’ll be offered the option to apply with a cosigner.

Santander offers relatively low APRs, ranging from 6.99% – 16.99%, depending on how creditworthy the applicant is, with terms from 24 to 60 months. To apply, you’ll need your Social Security number, employment information and income information.

While Santander doesn’t offer details about the credit score required to get a personal loan, its website states that successful loan applications have the “highest credit standards.”


  • Fixed, low APRs and monthly payments
  • No annual application fee, annual fee or prepayment fee


  • Applicants must live in Massachusetts, Maryland, Rhode Island, Connecticut, New Hampshire, New Jersey, Pennsylvania, New York, Delaware, Maine, Vermont or Washington, D.C.
  • High credit score required for applicant or cosigner

Because of its low APRs and cosigner policy, Santander could be an excellent source for a loan if you live in the Northeast and may not qualify on your own.

First Midwest Bank

First Midwest Bank offers low APRs, a quick turnaround on loan applications, and an easy application process. While this bank is based in Chicago and serves consumers at more than 100 branch offices in the region, it also offers loans to borrowers online in 26 states.

First Midwest Bank provides loans for between $5,000 – $25,000 with APRs ranging from 7.17% – 12.87%. When you fill out an online application, you can select a “joint” loan and apply with a cosigner.

To apply with a cosigner, you must submit a joint application, and the applicants whose financial information will go on the loan should have a good credit score, at least five years of credit history with no repossessions, bankruptcies, foreclosures, or other significant credit issues. You also may be asked to submit proof of employment or income.


  • Low APRs
  • Application decision within 24 hours of applying
  • Fixed rates
  • Flexible payment terms


  • $100 documentation fee
  • Only residents of certain states qualify

For residents of this bank’s service area, First Midwest Bank is an excellent source for personal loans with a low APR. Its 24-hour turnaround on loan applications will let you know almost immediately whether you or your cosigner qualified.

OneMain Financial

While OneMain Financial doesn’t offer competitively low APRs compared to many personal loan lenders, it does approve loans for applicants with lower credit scores and allows loans with cosigners. Applicants are required to state the purpose of the loan when they apply, and FirstMain personal loans cannot be used for college expenses, business purposes, purchasing securities or gambling.

OneMain Financial lays out instructions for cosigners, including spouses of applicants. When their information is used for loan qualification, they must provide details about their assets and income. Married people, however, can apply as individuals using their own financial information, and their spouse’s financial information will not be considered.

The lender approves loans between $1,500 and $30,000 with APRs ranging from 16.05% and 35.99%. Terms are for 24 to 60 months.


  • Fixed APR
  • Fixed payments
  • Applications accepted online and at branches


  • High APRs
  • Borrowers with good credit could get a better deal with another lender
  • Loan size is restricted to residents of some states, primarily in the South and East Coast
  • Hard Pull on credit with application

If you struggle to find a cosigner with a strong credit score, OneMain Financial is a good option for getting a personal loan. While the lender’s interest rates are high, especially for those with bad credit, OneMain remains one of the few options where you can get a loan.

Interested in a personal loan?

Here are the top personal loan lenders of 2019!
LenderAPR RangeLoan Amount 
1 Includes AutoPay discount. Important Disclosures for SoFi.

SoFi Disclosures

  1. Fixed rates from 5.990% APR to 16.240% APR (with AutoPay). Variable rates from 5.75% APR to 14.60% APR (with AutoPay). SoFi rate ranges are current as of March 18, 2019 and are subject to change without notice. Not all rates and amounts available in all states. See Personal Loan eligibility details. Not all applicants qualify for the lowest rate. If approved for a loan, to qualify for the lowest rate, you must have a responsible financial history and meet other conditions. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, years of professional experience, income and other factors. See APR examples and terms. Interest rates on variable rate loans are capped at 14.95%. Lowest variable rate of 5.75% APR assumes current 1-month LIBOR rate of 2.50% plus 4.28% margin minus 0.25% AutoPay discount. For the SoFi variable rate loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account.
  2. To check the rates and terms you qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull.
    See Consumer Licenses.
  3. Minimum Credit Score: Not all applicants who meet SoFi’s minimum credit score requirements are approved for a personal loan. In addition to meeting SoFi’s minimum eligibility criteria, applicants must also meet other credit and underwriting requirements to qualify.
  4. SoFi Personal Loans are not available to residents of MS. Maximum interest rate on loans for residents of AK and WY is 9.99% APR, for residents of IL with loans over $40,000 is 8.99% APR, for residents of TX is 9.99% APR on terms greater than 5 years, for residents of CO, CT, HI, VA, SC is 11.99% APR, and for residents of ME is 12.24% APR. Personal loans not available to residents of MI who already have a student loan with SoFi. Personal Loans minimum loan amount is $5,000. Residents of AZ, MA, and NH have a minimum loan amount of $10,001. Residents of KY have a minimum loan amount of $15,001. Residents of PA have a minimum loan amount of $25,001. Variable rates not available to residents of AK, TX, VA, WY, or for residents of IL for loans greater than $40,000.
  5. If you lose your job through no fault of your own, you may apply for Unemployment Protection. SoFi will suspend your monthly SoFi loan payments and provide job placement assistance during your forbearance period. Interest will continue to accrue and will be added to your principal balance at the end of each forbearance period, to the extent permitted by applicable law. Benefits are offered in three month increments, and capped at 12 months, in aggregate, over the life of the loan. To be eligible for this assistance you must provide proof that you have applied for and are eligible for unemployment compensation, and you must actively work with our Career Advisory Group to look for new employment. If the loan is co-signed the unemployment protection applies where both the borrower and cosigner lose their job and meet conditions.
  6. Terms and Conditions Apply: SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other conditions. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, a responsible financial history, years of experience, income and other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Business Oversight under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636. (

2 Includes AutoPay discount. Important Disclosures for Payoff.

Payoff Disclosures

  1. All loans are subject to credit review and approval. Your actual rate depends upon credit score, loan amount, loan term, credit usage and history. Currently loans are not offered in: MA, MS, NE, NV, OH, and WV.

3 Important Disclosures for FreedomPlus.

FreedomPlus Disclosures

  1. All loans available through are made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender. All loan and rate terms are subject to eligibility restrictions, application review, credit score, loan amount, loan term, lender approval, and credit usage and history. Eligibility for a loan is not guaranteed. Loans are not available to residents of all states – please call a FreedomPlus representative for further details. The following limitations, in addition to others, shall apply: FreedomPlus does not arrange loans in: (i) Arizona under $10,500; (ii) Massachusetts under $6,500, (iii) Ohio under $5,500, and (iv) Georgia under $3,500. Repayment periods range from 24 to 60 months. The range of APRs on loans made available through FreedomPlus is 5.99% to a maximum of 29.99%. APR. The APR calculation includes all applicable fees, including the loan origination fee. For Example, a four year $20,000 loan with an interest rate of 15.49% and corresponding APR of 18.34% would have an estimated monthly payment of $561.60 and a total cost payable of $7,948.13. To qualify for a 5.99% APR loan, a borrower will need excellent credit on a loan for an amount less than $12,000.00, and with a term equal to 24 months. Adding a co-borrower with sufficient income; using at least eighty-five percent (85%) of the loan proceeds to directly pay off qualifying existing debt; or showing proof of sufficient retirement savings, could help you also qualify for the lowest rate available.

4 Important Disclosures for Citizens Bank.

Citizens Bank Disclosures

  1. Personal Loan Rate DisclosureFixed interest rates from 6.79% – 20.89% (6.79% – 20.89% APR) based on applicable terms. Lowest rates range from 5.99%-18.99% (5.99%-18.99% APR), are for eligible applicants, require a 3-year repayment term, and include our Loyalty and Automatic Payment Discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.
  2. Loyalty Discount: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower has a qualifying account in existence with us at the time the borrower has submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: any checking account, savings account, money market account, certificate of deposit, automobile loan, home equity loan, home equity line of credit, mortgage, credit card account, student loans or other personal loans owned by Citizens Bank, N.A. Please note, our checking and savings account options are only available in the following states: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI and VT. This discount will be reflected in the interest rate and Annual Percentage Rate (APR) disclosed in the Truth-In-Lending Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan, and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan.
  3. Automatic Payment Discount: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their Citizens Bank Personal Loan during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account two or more times within any 12-month period, the borrower will no longer be eligible for this discount.

5 Important Disclosures for LendingPoint.

LendingPoint Disclosures

  • Loan approval is not guaranteed. Actual loan offers and loan amounts, terms and annual percentage rates (“APR”) may vary based upon LendingPoint’s proprietary scoring and underwriting system’s review of your credit, financial condition, other factors, and supporting documents or information you provide. Origination or other fees from 0% to 6% may apply depending upon your state of residence. Upon LendingPoint’s final underwriting approval to fund a loan, said funds are often sent via ACH the next non-holiday business day. LendingPoint makes loan offers from $2,000 to $25,000, at rates ranging from a low of 9.99% APR to a high of 35.99% APR, with terms from 24 to 48 months. The loan offer(s) shown reflect a 28 day payment cycle which is being offered as a courtesy as many of our customers are paid on a biweekly schedule and thus this may better align the loan payment dates with your actual income receipt schedule.

6 Important Disclosures for LendingClub.

LendingClub Disclosures

All loans made by WebBank, Member FDIC. Your actual rate depends upon credit score, loan amount, loan term, and credit usage & history. The APR ranges from 6.95% to 35.89%*. The origination fee ranges from 1% to 6% of the original principal balance and is deducted from your loan proceeds. For example, you could receive a loan of $6,000 with an interest rate of 7.99% and a 5.00% origination fee of $300 for an APR of 11.51%. In this example, you will receive $5,700 and will make 36 monthly payments of $187.99. The total amount repayable will be $6,767.64. Your APR will be determined based on your credit at the time of application. The average origination fee is 5.49% as of Q1 2017. In Georgia, the minimum loan amount is $3,025. In Massachusetts, the minimum loan amount is $6,025 if your APR is greater than 12%. There is no down payment and there is never a prepayment penalty. Closing of your loan is contingent upon your agreement of all the required agreements and disclosures on the website. All loans via LendingClub have a minimum repayment term of 36 months. Borrower must be a U.S. citizen, permanent resident or be in the United States on a valid long term visa and at least 18 years old. Valid bank account and Social Security number are required. Equal Housing Lender. All loans are subject to credit approval. LendingClub’s physical address is: LendingClub, 71 Stevenson Street, Suite 1000, San Francisco, CA 94105.

†Per reviews collected and authenticated by Bazaarvoice in compliance with the Bazaarvoice Authentication Requirements, supported by anti-fraud technology and human analysis. All reviews can be reviewed at

**Based on approximately 60% of borrowers who received offers through LendingClub’s marketing partners between January 1, 2018 to July 20,2018. The time it will take to fund your loan may vary.

7 Important Disclosures for Earnest.

Earnest Disclosures

  1. Earnest does not lend in Alabama, Delaware, Kentucky, Nevada, or Rhode Island.

8 Important Disclosures for Avant.

Avant Disclosures

* The actual rate and loan amount that a customer qualifies for may vary based on credit determination and other factors. Funds are generally deposited via ACH for delivery next business day if approved by 4:30pm CT Monday-Friday. Avant branded credit products are issued by WebBank, member FDIC.

** Example: A $5,700 loan with an administration fee of 4.75% and an amount financed of $5,429.25, repayable in 36 monthly installments, would have an APR of 29.95% and monthly payments of $230.33

* Important Disclosures for Upgrade Bank.

Upgrade Bank Disclosures

* Your loan terms are not guaranteed and are subject to our verification and review process. You may be asked to provide additional documents to enable us to verify your income and your identity. This rate includes an Autopay APR reduction of 0.5%. By enrolling in Autopay your payments will be automatically deducted from you bank account. Selecting Autopay is optional. Annual Percentage Rate is inclusive of a loan origination fee, which is deducted from the loan proceeds. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. All loans made by WebBank, member FDIC. Please refer to Upgrade’s Terms of Use and Borrower Agreement for all terms, conditions and requirements.

** Accept your loan offer and your funds will be sent to your bank via ACH within one (1) business day of clearing necessary verifications. Availability of the funds is dependent on how quickly your bank processes this transaction. From the time of approval, funds should be available within four (4) business days.

5.75% – 16.24%1$5,000 - $100,000

Visit SoFi

7.69% – 35.99%$1,000 - $50,000

Visit Upstart

7.99% – 35.89%*$1,000 - $50,000

Visit Upgrade

5.99% – 24.99%2$5,000 - $35,000

Visit Payoff

5.99% – 29.99%3$7,500 - $40,000

Visit FreedomPlus

6.79% – 20.89%4$5,000 - $50,000

Visit Citizens

9.99% – 35.99%5$2,000 - $25,000

Visit LendingPoint

6.95% – 35.89%6$1,000 - $40,000

Visit LendingClub

6.99% – 18.24%7$5,000 - $75,000

Visit Earnest

9.95% – 35.99%8$2,000 - $35,000

Visit Avant

Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print to help you understand what you are buying. Be sure to consult with a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time.

Published in

You're on your way...

We'll take you to where you'll be able to fill out one form to get multiple personal loan offers.