19 Tex. Admin. Code § 22.182 - Requirements of Cosigner

(a) A cosigner shall:

(1) be at least 21 years of age or older;

(2) have a regular source of income;

(3) have received a favorable evaluation of his/her credit report; and

(4) reside in the United States or a U.S. territory and be a U.S. citizen or permanent resident of the United States.

(b) A spouse may not act as the cosigner for the student.

(c) Cosigners are guarantors of payment and not of collection; it is not necessary for the Board Staff to demonstrate that the borrower is insolvent before it may pursue collection against the cosigner.

Notes

19 Tex. Admin. Code § 22.182

Adopted by Texas Register, Volume 47, Number 52, December 30, 2022, TexReg 8983, eff. 1/1/2023