What is a Co-borrower?

A Co-borrower is an additional borrower who can be a spouse, parent, sibling, any other family member, or even a friend, who will be equally liable for the student loan.

Both the Borrower and Co-borrower must sign the agreement and are equally responsible for repayments, receiving collection reminders. Having a Co-borrower can help an applicant better manage their loan. Once a loan is active, both individuals' information must be kept updated.

Co-borrower Requirements:

• 18 years old
• Has a PH mobile number
• Reside in the Philippines

They will provide consent via an SMS link, submitting a Government-issued valid ID and agreeing to terms. Additional documents like proof of residence may also be required. For faster processing, please prepare these documents.

Proof of Income:

Only one individual (Borrower or Co-borrower, or both) needs to provide proof of income. During application, indicate if the Borrower and/or Co-borrower has a source of income and enter their details. See a list of valid Proof of Income here.

Overseas Filipino Workers (OFW) as Co-borrowers:

OFWs cannot be co-borrowers. Please nominate another relative or friend residing in the Philippines to sign the agreement.

How to input OFW-related income:

If the Borrower or Co-borrower receives OFW remittances, nominate the receiver of the remittance as the income earner. This allows you to submit the OFW’s income information under their profile.

• Sample Scenario: If the student is the applicant, their father is an OFW, and their mother receives remittances
  • Borrower: Student
  • Co-Borrower: Mother
  • Income Earner: Father
  • OFW Information: Father

Co-borrower Revision Requests:

Our team may request a different co-borrower based on assessment to help the applicant best manage their loan. Remember, the chosen co-borrower shares equal responsibility for loan repayment.

If there are any further questions about co-borrowers, please feel free to reach out to our team by filling out this form.