What FDIC score does a cosigner have to have?
Trying to apply for a Sallie Mae loan and I need a cosigner – wondering what score the person has to be?
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You’re talking about a FICO score, which is just one way to calculate a credit score. A score of 680 or higher is very good. Sallie Mae has a tiered interest rate, so different scores will get a different rate. The interest rate may also be based on which school you attend since schools with lower default rates indicate a better credit risk. There is no easy answer to your question because there are many variables, but everyone should aspire to a FICO score of 700 or higher.
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