When I cosigned for a friend's student loan, I called Sallie Mae and asked when I could be removed as cosigner. They told me once he graduates and starts repayment and makes 24 consecutive on time payments, he can fill out a form to have me removed.
Once the 24 payments were almost finished, I called Sallie Mae to ask about the next step. They told me again that when he successfully makes 24 consecutive on time payments he can fill out a cosigner release form to have me taken off the loan as the cosigner.
The 24 payments were made (they were auto payments so they were on time) and he filled out the form. They said it would take a few weeks.
I called today to see when I was being taken off the loan. They said his "application" to take me off was denied because of his credit score.
The credit score was never a factor in the conversations I had with Sallie Mae. When I spoke with a supervisor about this, she said she was sorry I was given misinformation. Twice. Really? She said she had no authority to help me resolve this and when I asked to speak to someone that could help me, she said that the people handling the decision where not educated to talk to customers.
This is absurd!!!
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