Find the Best Student Loans for You
Credible offers private student loans for:
- Undergraduate students who enrolled, or plan to enroll, at least half time at a qualifying school.
- Graduate students.
- Medical students.
- MBA students.
- Law students.
- International students who meet certain qualifications.
Credible also offers student loan refinancing for:
- Borrowers with federal loans.
- Borrowers with private loans.
- Borrowers who did not graduate.
- Parent PLUS loans.
The process is fairly simple. Begin by selecting the type of loan you’re interested in, and fill out a form request. Questions will pertain to your finances and your education (if you’re looking into student loan refinancing). You also have the option of adding a potential co-signer’s information to improve your chances of qualifying. This is helpful if you do not have a lot of established credit or ample income.
The whole process should take about two minutes. If you are eligible for any of Credible partners’ products, you’ll then receive a list of each lender’s prequalified rates. You can use filters to further refine your list as needed.
Users can then do their own independent research to further vet the results and choose the loan that’s best for their needs. You can send your information directly to the lender via Credible.
Each lender will offer its own fixed and variable interest rates, repayment terms in months, penalty fees, and minimum and maximum loan amounts. However, lenders on the Credible platform offer fixed rates ranging from 3.2% to 14.54% APR and variable interest rates from 0.94% to 11.98% APR. Repayment terms range from five to 20 years. Credible promises zero origination fees from its partner lenders.
Because Credible is only a marketplace and not a direct lender, users will need to check with each lender’s terms to see if it offers any discounts.
To begin the process, you will complete a simple form on Credible’s website and then Credible or its lending partners will perform a soft credit inquiry. If you’re eligible, you’ll receive prequalified rates on your Credible Dashboard from all the partner lenders you qualify for. Credible will only reach out once it has received responses from all potential lenders.
Once you decide to move forward with a particular lender, that lender will then perform a hard credit inquiry.
Each of Credible’s lending partners uses its own criteria and minimum credit score to determine whether you are eligible for a loan. But Credible says its partners generally require a 670 credit score for private student loans. Some partners also set 670 as a minimum for refinancing. However, potential borrowers with limited or poor credit history may improve their chances of prequalifying for a loan by adding a creditworthy co-signer to their application.
The initial information provided to Credible should match you with lenders that serve your location.
Credible has been accredited by the Better Business Bureau since 2015 and has an A+ rating. It received 4.5 out of 5 stars on TrustPilot based on more than 5,000 reviews, and the Consumer Financial Protection Bureau received three complaints in 2021 about Credible concerning private student loans and each received a timely response.
In U.S. News’ ratings of student loan lenders, Credible received 4.8 out of 5 stars overall, 4.9 for affordability, 5.0 for eligibility and 4.7 for customer service. The median overall rating for student loan lenders by U.S. News is 4.4.
In U.S. News’ ratings of student loan refinance lenders, Credible received 4.4 out of 5 stars overall, 4.5 for affordability, 3.5 for eligibility and 4.7 for customer service. The median overall rating for student loan refinance lenders by U.S. News is 4.4.
To connect with Credible’s customer service, email [email protected] or chat with a representative directly on the website. You can also call 866-540-6005 from 9 a.m. to 9 p.m. Eastern Time Monday through Thursday, 9 a.m. to 7 p.m. ET Friday, and 10 a.m. to 7 p.m. ET Saturday and Sunday.
Within minutes of submitting your initial profile, you should see a notification on your Credible Dashboard if any of the partner lenders have loan options for you. The website provides filters to allow you to better compare details such as rates and repayment terms.
Once you choose to move forward with a specific lender, you’ll provide more detailed information, it will run a hard credit check, and you may need to submit documentation. If you decide to accept the final offer, the lender will reach out directly to complete the process.
Deferment and repayment conditions will vary depending on lender.
Each of Credible’s lending partners will have individualized conditions, if any, to qualify for loan discharge.
- People who want to get an idea of rates without hard credit pulls or fees.
- Students or potential students who may need additional funds on top of their federal loans.
- Undergraduates, graduates or parents looking to refinance.
Does Credible offer loans?
Credible is not a lender – it is a marketplace for comparing lenders. Think of it as a research tool to get a personalized snapshot of your options based on your financial situation.
Does Credible charge any fees?
Credible is free to use. The company earns referral fees from lenders if you apply for a loan using the Credible portal.
Does using Credible affect your credit score?
Credible does not perform a hard inquiry on your credit report when you submit a request for rates. Instead, it does a soft inquiry, which has no effect on your credit score. That said, you are not guaranteed to get prequalified rates from every lending partner. Should you decide to move forward with a full lender application, at that point the lender will do a deeper dive into your credit with a hard credit inquiry, which will temporarily impact your score.