College ave approved me at 14% interest

Hey there, I am not actually taking the loan, but I am really puzzled why I was approved for a 14% interest rate on a $20,000 loan when my co-signer has a credit score over 800. Could it be because I also used my income to apply? Or maybe because my co-signer is a resident, not a citizen? Iโ€™m completely confused about this situation. :sweat_smile:

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Was it fixed or variable? The variable will likely be high right now with inflation.

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When my partner was a resident, he always got better rates, and I often had to co-sign with him even though he made good money and had good credit. With student loans, thereโ€™s no collateral if you donโ€™t pay, so his credit might not help much if he co-signs.