Many or all companies we feature compensate us. Compensation and editorial research influence how products appear on a page. Student Loans Credible Student Loans Review Updated Dec 03, 2024 6-min read Reviewed by Jeff Gitlen, CEPF® Reviewed by Jeff Gitlen, CEPF® Expertise: Student loans, personal loans, home loans, insurance, credit cards Jeff Gitlen, CEPF®, is the director of growth at LendEDU. He graduated from the Alfred Lerner College of Business and Economics at the University of Delaware. Learn more about Jeff Gitlen, CEPF® Best Marketplace 4.6 /5 View Rates Private Student Loans Compare multiple lenders with one application in 3 minutes Student loans for undergraduate and graduate degrees Checking your prequalified rates doesn’t impact your credit score1 There are no fees to see your results Only shows rates from its partner lenders Rates (APR)4.07% – 16.70%Loan amounts$1,000 – 100% of certified costsRepayment terms5, 7, 8, 10, 12, 15, or 20 years Refinance Student LoansView Rates Compare multiple lenders with one application in 2 minutes Student loans for undergraduate and graduate degrees are eligible Checking your prequalified rates doesn’t impact your credit score There are no fees to see your results Only shows rates from its partner lenders Rates (APR)5.28% – 12.41%Loan amounts$1,000 – 100% of outstanding balanceRepayment terms5, 7, 10, or 15 years Credible is an online marketplace that allows you to compare rates and terms on student loans. In this review, we’ll explain the pros and cons of using Credible to find a new student loan or refinance existing student loans. Table of Contents Skip to Section What does Credible do?Credible private student loansCredible student loan refinancingHow we rated Credible student loans What does Credible do? Credible is a loan comparison website for financial products, including student loans. If you’ve prequalified with one of its partner lenders and decide to proceed with that lender, Credible can make the connection so you can fill out a full application. The lenders available through Credible’s marketplace offer student loans accepted at more than 2,200 schools across the U.S. >> Read More: List of student loan companies Credible private student loans Credible allows borrowers to shop for student loan options from private lenders. You can use these loans to pay for education-related costs not covered by federal student loans, including tuition, housing, food, books, and more. To be eligible for most loans, you must be enrolled at least part-time in an educational program. International students may be eligible if they have a U.S. address and a U.S. citizen or permanent resident as a cosigner. Private student loan rates and terms vary depending on your financial need, credit history, your school’s cost of attendance, and whether you have a cosigner. Some lenders offer deferred and interest-only payment options, as well as both fixed- and variable-rate loans. Rates, borrowing limits, and more The available terms for your student loan through Credible will depend on several factors, including your chosen lender and credit score. The images from Credible’s website below disclose its partner lenders and rates for private student loans: Source: Credible (for Illustrative purposes only, actual rates may vary) Source: Credible (for Illustrative purposes only, actual rates may vary) How to apply for a Credible private student loan You can apply for a Credible private student loan in six steps. 1. Get started: To prequalify for a loan through Credible, start by selecting whether you’re the student or cosigner. Source: Credible (for Illustrative purposes only, actual rates may vary) 2. Enter your personal, educational, and financial information: Next, you’ll enter details such as your contact information, salary, school, projected graduation date, and the amount you wish to borrow. 3. Get prequalification offers: Without running a hard credit check, Credible will display your personalized offers from its partner lenders. You can sort the offers by total interest, APR, payments during or after school, and term length. Source: Credible (for Illustrative purposes only, actual rates may vary) You can expand each offer to see additional details. Source: Credible (for Illustrative purposes only, actual rates may vary) 4. Choose an offer: If you want to proceed with an offer, select the “Continue” button on that offer. You’ll enter additional details for the lender—such as your Social Security number, the specific degree you’re pursuing, and additional employment information—and consent to a hard credit check, which may lower your credit score by a few points. 5. Official approval: The lender will verify the information you entered by checking your credit and—ideally—approve you for the rate and terms you expected. This is often instant, but underwriting could require additional information. 6. Get funds: The lender will disburse the funds to your school according to the schedule the college sets. If your loan requires in-school repayment, these will begin after fund disbursement. If you select to begin repayment after you graduate or leave school, your first monthly payment will be due after the grace period ends. Credible student loan refinancing Borrowers can also find options for refinancing student loans through Credible. Refinancing can lead to lower interest rates or monthly payments depending on your repayment term and interest rate. Rates, terms, and more The terms and rates for your refinanced loan will depend on which lender you select, your credit score, and other factors. You can see a list of Credible’s partner lenders for student loan refinancing and more details about their loans below: Source: Credible (for Illustrative purposes only, actual rates may vary) Source: Credible (for Illustrative purposes only, actual rates may vary) How to apply for a Credible student loan refinance Getting a refinance loan with Credible involves the following eight steps. 1. State your goal: To prequalify for a refinance through Credible, first, select your most important reason for refinancing. (This won’t affect your eligibility or offers, but it helps Credible sort your offers.) Source: Credible 2. Choose your loan type: Select whether you’re refinancing parent loans or student loans. (Credible offers parents the option to transfer loans in their name into the child’s name.) Source: Credible 3. Select whether you want to transfer your loans to another person: Tell Credible if you want the loans to remain in the original borrower’s name or if you plan to transfer them. Source: Credible Source: Credible (for Illustrative purposes only, actual rates may vary) Source: Credible 8. Begin repaying your new loan: The new lender will pay off the loans you’re refinancing. This may take several weeks, so you should continue making payments on your refinanced loans until you get confirmation they’re paid off. Then you’ll instead make payments according to the new lender’s schedule. How we rated Credible student loans We designed LendEDU’s editorial rating system to help consumers identify companies that offer the best financial products. Our experts spend hours researching these companies each year to ensure our ratings are fresh and accurate. Our most recent evaluation compared Credible to several lenders across a number of factors, including rates, repayment terms, customer reviews, and benefits. We weighted, scored, and combined these factors to produce a final editorial rating. This rating is expressed on a scale from 1 to 5, with 5 being the highest possible score. We round all ratings to the nearest tenth decimal place. Student loanBest forOur ratingPrivate student loanBest marketplace4.7 out of 5Student loan refinanceBest marketplace4.8 out of 5