My partner needs a little extra money next year for grad school and I’ve been approved as a co-signer for a PLUS loan, which I’m glad to do. My question is this: what happens when she graduates and goes on IBR? If we consolidate that loan with the rest, will I then become a co-signer for that consolidation loan as well? Or will I be released as a co-signer? Would it be better for us to keep that one separate and pay it separately?

The only reason I ask is we are concerned about getting a mortgage and my debt/income will shift if her entire student loan debt ends up on my credit report for 25 years. Any advice? Thanks.

I encourage folks to be cautious about cosigning.  In some cases a potential endorser, as it’s called in the case of a PLUS loan, would be better off loaning the money directly.  If the endorser or cosigner cannot afford to do that, he or she would do well to think carefully about the obligations involved.  Check out some details here: http://www.direct.ed.gov/pubs/plusendadd.pdf