(a) A cosigner shall:
  (1) be at least 21 years of age or older;
  (2) have a regular source of income;
  (3) have received a favorable evaluation of his/her credit report; and
  (4) reside in the United States or a U.S. territory and be a U.S. citizen or permanent resident of the United States.
(b) A spouse may not act as the cosigner for the student.
(c) Cosigners are guarantors of payment and not of collection; it is not necessary for the Board Staff to demonstrate that the borrower is insolvent before it may pursue collection against the cosigner.

Source Note: The provisions of this §22.182 adopted to be effective January 1, 2023, 47 TexReg 8983