NEW MEXICO STUDENT LOANS COSIGNER RELEASE TERMS
Please complete and return this form. If you prefer to complete this form electronically, please email us at
loan@nmeaf.org
I _______________________________________________ the Borrower identified in the New Mexico
(Name)
Educational Assistance Foundation Credit Agreement (“Credit Agreement”) under which my eligible student
loan(s) were obtained, request to the cosigner(s) listed on page 2 of this application released from his/her
obligation on my eligible student loan(s). I understand that:
• Approval of my request is at the sole discretion of the New Mexico Educational Assistance
Foundation (“NMEAF”), its affiliates and subsidiaries, and their successors and assigns (collectively,
“Lender”).
• My request will only be considered if:
1. I submit a completed application, with my signature.
2. I provide proof of my graduation from an Eligible Institution as defined in the Credit Agreement
for the student loan(s) on which cosigner release is requested. (Do not send original copies as
they will not be returned.)
3. I am a U.S. citizen or permanent resident at the time this request is submitted. If my citizenship
status has changed since I applied for the loan(s) in question, I am providing proof of citizenship.
4. I provide proof of my present income (e.g. most recent W2 along with a current paystub issued
within the last 90 days, copy of my most recently filed tax return and a current paystub issued
within the last 90 days, Social Security income or disability award letters).
5. All of my NMEAF loans, whether or not private loans, are current and have been current for the
past 24 months immediately before this request is made.
6. I have demonstrated a satisfactory payment history on each loan on which cosigner release is
requested by meeting each of the requirements set forth in the Early Release of Cosigner
Provided Certain Requirements Are Met section of the Credit Agreement.
• NMEAF will obtain my credit report to utilize along with this application. When the cosigner release
application is processed, I must:
1. Demonstrate the ability to assume full responsibility for repayment of each loan on which
cosigner release is sought.
2. Pass a credit review that demonstrates a satisfactory credit history including but not limited to no
open bankruptcy, open foreclosure actions, loan(s) in default, or any 90-day plus delinquencies in
the last 24 months.
• I may need to submit additional information for your evaluation.
• By releasing my cosigner, Lender is not releasing me from my loan obligation(s). I am hereby
ratifying my loan obligation(s) freely, voluntarily, and without duress in exchange for Lender’s
agreement to release my cosigner(s). In doing so, I agree to comply with and fulfill all of my
obligations under the Credit Agreement governing my loan(s).
These requirements are subject to change without notice.
