Our experts answer readers' student loan questions and write unbiased product reviews (here's how we assess student loans). In some cases, we receive a commission from our partners; however, our opinions are our own.
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Who is Credible Best For?
Credible is best for borrowers who want to compare a variety of loan options at once and don't want to go through the hassle of applying for them at multiple lenders. Credible will present you with a list of what you qualify for after you input some simple information.
Borrowers who want to avoid fees should also consider Credible.
Types of Student Loans Offered by Credible
Credible offers student loans in several forms, including:
- Undergraduate
- Graduate
- Parent
- Medical school
- MBA
- Law school student loans
- Student loan refinancing
Credible Student Loan Details
To get a loan, you generally need to meet the following qualifications, which vary by the lenders Credible partners with:
- Have a qualifying credit score, or a cosigner with one
- Have a qualifying income and debt-to-income ratio (DTI), or a cosigner with one
- Be enrolled in a qualifying education program
- Be a US citizen or legal resident with a Social Security number
- Be at least 18 years old and have a high school diploma or equivalent (or have a cosigner)
- Use the loan for education purposes only
You should consider your federal student loan options before refinancing into any private student loan, including one with Credible, as you can often get better terms and protections through the government.
Roughly 85% of borrowers who take out a loan from Credible have a co-signer on their loan.
You can contact customer support by phone Monday through Thursday from 9 a.m. to 9 p.m. ET, Friday from 9 a.m. to 7 p.m., and on Saturday from 10 a.m. to 6 p.m. You may also email the company at its support account or contact them through live chat.
Pros and Cons of Credible Student Loans
How to Apply for Credible Student Loans
1. Put in an application on Credible's website. You (and your cosigner, if applicable) will enter your email address, name, phone number, education level, Social Security number, and income history. You'll get an estimated monthly payment and rate range with no impact on your credit score.
2. Sign a loan agreement and get your new loan. After you sign your loan agreement, you may get your loan soon after with Credible. Remember, refinancing a loan means you replace your old loan with a new one.
3. Work loan payments into your budget. Figure out how to adjust your budget to fit in your new loan payments. Make sure you have enough money to cover all of your financial responsibilities.
Credible Frequently Asked Questions
Yes, Credible is a legitimate loan company offering student loans to a variety of borrowers.
Applying for a loan with Credible doesn't impact your credit score — the lender will only conduct a soft credit pull to get your rates. However, your payment consistency once you get the loan will affect your score.
No, student loans don't go away after seven years.
Credible Trustworthiness
Credible has an A+ rating from the Better Business Bureau. The BBB is a nonprofit organization focused on consumer protection and trust. It determines its grades by focusing on a business' response to consumer complaints, honesty in advertising, and openness about business practices.
The lender hasn't been involved in any recent controversies, so you may feel comfortable borrowing from them.
Credible Competitors
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Credible Student Loans
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Splash Financial Student Loan Refinancing
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Earnest Student Loan Refinancing
Credible Student Loans vs. Splash Financial Student Loan Refinancing
Credible offers a $200 bonus if you find a lower rate with a different lender, although that might not be easy to do.
Both Credible and Splash Financial have term lengths ranging between five to 20 years, depending on the partner lender you choose.
Credible Student Loans vs. Earnest Student Loan Refinancing
Earnest originates undergraduate and graduate loans, as does Credible. You won't pay origination fees or prepayment penalties with either company.
Earnest's loans have a distinctive perk: the ability to skip one payment every year. You can request your first skip once you've made at least six months of consecutive on-time, full principal and interest payments, as long as your loan is in good standing. However, interest will accrue during this time, and the lender will extend the final payoff date of your loan by the length of the skipped payment period.
Methodology: How We Rated Credible Student Loans
We rate all student loan products in our reviews and guides on a 1-5 scale. The overall rating is a weighted average that takes into account seven different categories, some of which are judged more heavily than others. They are:
- Interest rate (20% of rating)
- Fees (20% of rating)
- Term lengths (15% of rating)
- Repayment options while in school (15% of rating)
- Borrower accessibility (15% of rating)
- Customer support (7.5% of rating)
- Ethics (7.5% of rating)
Each category's weighting is determined based on its importance to your borrowing experience. Rates and fees have the most significant impact on the total cost of your loan, so we weigh those the most heavily. Customer support and ethics are still crucial parts of the borrowing experience, but do not directly tie to a student loan's terms, so they have less of an impact on the overall rating.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
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