What is an Endorser?

You may have been asked to endorse a Federal gradplus Loan for a graduate borrower attending a college / university. We thank you for your assistance in making this loan and appreciate your willingness to act as an endorser. Prior to approving the loan request, we want you to completely understand the obligation and responsibilities of an endorser.

As an endorser on a Federal gradplus loan, you will be obligated to repay the gradplus loan in the event the borrower is in default or does not repay the loan(s). The endorser has certain rights and responsibilities and we encourage you to review the Endorser Addendum in its entirety before signing it.

What are the Endorser Qualifications, Rights, and Responsibilities?

Please note the following information and requirements of an endorser:

• Endorser must be a creditworthy U.S. citizen, permanent resident or other eligible non-citizen.
• Endorser must sign each new loan request.
• Endorser must advise the lender if there is a change of address, telephone number, e-mail address, or employer information.
• Endorser may request a change in repayment plans, if making the payments, by contacting IDAPP.
• Endorser’s name will be reported to the credit bureau if the gradplus borrower becomes delinquent or defaults,
• Endorsers are not eligible to receive any deferments but may be eligible for a forbearance.
• Endorser acknowledges that the lender may use the same collection methods against them that can be used against the borrower (i.e.) lawsuits, wage garnishment, etc.
• Endorser acknowledges that a credit evaluation will be performed and reviewed by persons and organizations as permitted by law to receive such information.

How can I apply to become an Endorser for a gradplus loan?

You may become an Endorser by downloading the application form and mailing it to IDAPP.