Can You Transfer Student Loans to Another Person, Like a Parent to Child or Spouse?

Transferring student loans to someone else—whether from a parent to a child, to a spouse, or via cosigner release—isn’t simple, but it may be possible in certain cases.

Many borrowers seek this option to shift financial responsibility, especially after graduation, marriage, or career changes. While you can’t directly transfer federal student loans, some private lenders allow refinancing into another person’s name. Below, we’ll walk through how student loan transfers work, when you might want to explore one, and which lenders make it possible.

Table of Contents

1. Reasons to transfer student loans
2. Can you transfer student loans to another person?
   1. Parent to child
   2. Spouse-to-spouse
   3. Use cosigner release
   4. Refinance a student loan into someone else’s name
3. What lenders allow the transfer of student loans?
   1. SoFi
   2. ELFI
4. Pros and cons of transferring student loans
5. How to transfer student loans to another person
6. FAQ

Reasons to transfer student loans

You might consider transferring student loans for several personal and financial reasons:

• Parent to child: A parent may want to transfer a Parent PLUS Loan to their child once they graduate, gain employment, or become financially independent.
• Spouse to spouse: A couple might want to consolidate or transfer loans under one name for streamlined household budgeting or better interest rates.
• Cosigner release: A student who used a parent or spouse as a cosigner might want full responsibility once their credit or income improves, freeing the cosigner from liability.
• Divorce or separation: When splitting finances, one spouse may wish to transfer their partner’s cosigned or consolidated loan into a single name.
• Estate planning: Older borrowers may want to offload loan responsibility for planning purposes, although this is rare and usually not feasible with federal loans.

These motivations highlight why a borrower might pursue a transfer—even when it’s complicated.

Can you transfer student loans to another person?

The short answer is: It depends on the type of loan.

Can you transfer federal student loans to another person?

No, federal student loans can’t be transferred to another person unless you refinance them through a private lender. This converts the loan into a private one and results in the loss of federal benefits such as income-driven repayment and loan forgiveness programs.

Can you transfer private student loans to another person?

Yes, in certain cases. Some private lenders allow a student to take over a Parent PLUS loan or permit refinancing into a spouse’s name. The borrower assuming the loan must meet the lender’s eligibility requirements, including income and credit standards.

Parent to child student loan transfers

The most common transfer scenario is moving a Parent PLUS Loan into the student’s name. Private lenders such as SoFi and ELFI allow this option through refinancing. It helps parents shift the loan responsibility to the student, which is especially useful if the student has graduated, found stable employment, and wants to build their credit.

However, this isn’t automatic. The student must meet the lender’s credit and income requirements, and some lenders also require the student to have earned a degree.

Spouse-to-spouse student loan transfers

Transferring student loans between spouses is less common but may still be possible. A spouse with stronger credit or a higher income might refinance a loan in their name to lower the interest rate or better manage household debt. Some lenders allow this, but it varies. Joint spousal consolidation loans are no longer offered, but refinancing might still be an option if one spouse wants to assume full responsibility for a loan.

Use cosigner release to transfer loan responsibility

If a parent or spouse cosigned a student loan, the primary borrower can often apply for cosigner release after a set period—usually 12 to 24 months of on-time payments. This doesn’t change the borrower on the loan, but it relieves the cosigner of future responsibility. Only certain lenders offer this, and it’s typically only available on private loans.

Refinance a student loan into someone else’s name

Refinancing is the most direct method for transferring a student loan to another person. This involves the new borrower applying for a new loan in their name and using it to pay off the existing one. It’s available through private lenders only. Federal loans must be refinanced into private loans, resulting in the loss of federal protections.

Lenders typically require:

• Strong credit (often 680+)
• Stable income
• A completed degree (for student loan refinance)

What lenders allow the transfer of student loans?

Not all lenders allow student loan transfers, but here are two that do:

SoFi

Best Online Lender

4.9 _/5

View Rates

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About SoFi’s refinance loan

• Allows refinancing of Parent PLUS loans into the student’s name
• No fees
• Return-to-school deferment options
• Strong member benefits
• Refinance your total outstanding loan balance
• Checking your rates doesn’t affect your credit

SoFi lets you choose between fixed or variable rates and offers multiple ways to lower your rate, giving you more control over your refinanced student loans. Member benefits, such as referral programs and exclusive events, further enhance the SoFi experience.

Fixed rate (APR)	5.24% – 9.99% w/ autopay
Variable rate (APR)	6.24% – 9.99% w/ autopay
Loan amounts	$5,000 – 100% of outstanding balance
Repayment terms	5, 7, 10, 15, or 20 years

ELFI

Best Personalized Support

4.7 _/5

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About ELFI’s refinance loan

• Allows Parent PLUS loan transfer to student
• 12-month economic hardship forbearance

ELFI stands out for its personalized support, assigning applicants a dedicated Student Loan Advisor to see them through the process. This one-on-one guidance ensures a smooth refinance, particularly when transferring Parent PLUS loans to a child’s name. 

Borrowers must have earned at least a bachelor’s degree and have a minimum 680 credit score to qualify. You can check your rates before you apply, and if approved, you won’t pay application, origination, or prepayment fees.

Rates (APR)	5.28% – 8.99%
Loan Amounts	$10,000 – 100% of outstanding balance
Repayment Terms	5, 7, 10, 15, or 20 years

Pros and cons of transferring student loans

For the borrower transferring the loan:

Pros

• Relief from monthly payments

• Potential credit score improvement

Cons

• Loss of federal loan benefits

• Legal and financial complexities

For the borrower receiving the loan:

Pros

• Ability to consolidate or simplify

• Potential for better loan terms

Cons

• Increased financial responsibility

• May affect credit profile

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To minimize risks to both parties, make sure the transfer can be done, and discuss changes with the cosigner or person the loan will be transferred to to ensure there are no surprises.

Next, research viable options to determine what you can afford. Consult a financial professional for additional guidance. Try not to make an emotional decision. A financial professional can help address the emotional and financial reasons behind wanting to refinance or transfer your loan, and can work with you to create a well-thought-out plan that weighs the pros and cons, and considers the actual numbers and how the decision affects your current financial condition and financial goals.

How to transfer student loans to another person

1. Review loan agreements: Understand current terms and conditions, and look for prepayment penalties or limitations.
2. Consult a financial expert: Understand implications for both parties, and discuss options and affordability.
3. Follow lender guidelines: Choose a lender that allows you to transfer, complete a refinance application in the new borrower’s name, and submit any required documentation and consents.

FAQ

What types of loans can be transferred?

Private student loans and Parent PLUS loans (via private refinance) are eligible for transfer. Federal loans generally cannot be transferred unless refinanced.

Can federal loans be transferred?

Only through refinancing into a private loan, which results in a loss of federal benefits. Otherwise, federal loans can’t be transferred between individuals.

What are the legal implications?

Transferring loans involves new credit checks, contracts, and binding obligations. The new borrower is legally responsible for repayment and any future consequences of default.

Recap of the best lenders for transferring student loans