Sparrow Student Loans Review 2025

4.4 _/5

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Private Student Loans

• 100% free to use
• Takes 3 minutes to prequalify
• See rates with no negative impact to credit score
• Shows results for parent loans and international student loans in addition to undergraduate and graduate loans

• Might not have as many options as other online platforms
• Is not a lender
• Not offering promotions at this time
• Newer company than other competitors
• Lacks APR transparency on its website
• Only 15 reviews on Trustpilot

Rates (APR)	Not disclosed
Loan amounts	$1,000 – 100% of costs
Loan types	Undergraduate, graduate, parent, international, refinance

Sparrow is a student loan marketplace that incorporates helpful charts and visuals to help you make your lending decisions. You can use Sparrow’s tools to compare student loans from more than 17 private lenders. It’s free to use, and it only takes a few minutes to prequalify (bonus: prequalifying won’t hurt your credit score.)

There are better-known comparison websites, like Credible, that have thousands of happy customer reviews online. Sparrow is newer to the marketplace, but it’s worth checking out if you’re an international student because of its lending partnerships. Here’s more information about how Sparrow works, the process, and whether or not we recommend it.

Table of Contents

1. How does Sparrow work?
2. Sparrow rates, terms, and fees
3. Who is eligible to apply with Sparrow?
4. How does Sparrow compare to other student loan marketplaces?

How does Sparrow work?

Enterval Analytics estimates there is $130.28 billion in outstanding private student loan debt. Unlike federal student loans, private lenders set their own interest rates and terms. That means lenders compete for your business. As a student loan marketplace, Sparrow allows you to compare several different lenders to find the lowest rate and best term available.

Sparrow is not a lender, but the platform allows you to fill out one form to see several different loan options. Previously, you would have to complete multiple applications at different lenders to compare rates. A student loan marketplace like Sparrow saves you time and only conducts a soft credit check, so you won’t hurt your credit by applying.

Sparrow is unique because it gives you payment charts, which help you compare lenders. For visual learners or those who struggle to calculate which loan is best, these charts can make your borrowing decision easier. Here is an example of a lender comparison chart from Sparrow, which shows you what your total loan costs would be with each lender. 

Sparrow rates, terms, and fees

Here are some important details about Sparrow rates, terms, and fees. Because Sparrow is a marketplace, rates and terms will vary based on the lender you choose. However, it is free to use Sparrow to compare lenders. One drawback is that Sparrow is a newer company and only lists partnerships with 21 lenders on its website. 

However, Sparrow partners with lenders like MPower and Prodigy, which specifically benefit international borrowers. In contrast, the marketplace Credible has slightly more lending partners, but there are fewer options for international students.

Term	Detail
Loan types	Undergraduate, Graduate, Parent, International, refinance
Lenders	Banks, credit unions, and nonprofits, including LendKey, Prodigy Finance, MPOWER, Brazos, Funding U, INvestED, ISL, SoFi, Earnest, College Ave, Ascent, and more.
Rates (APR)	Varies by lender, but generally, 4.71% – 15.97% variable APR with autopay for student loans; 3.50% – 12.95% fixed APR with autopay for refi loans
Loan amounts	$1,000 – 100% of costs
Repayment terms	Terms vary by lender
Cosigner allowed?	Yes, you can apply and pre-qualify with a cosigner
Fees	None
Unique features	Payment charts for each lender

Who is eligible to apply with Sparrow?

Several different types of borrowers are eligible to apply with Sparro, including undergraduate and graduate students, international students, and parents of college students. 

• Undergraduate students: Undergraduate students can apply with or without a cosigner, and they do not have to have an income or credit history to qualify. Other comparison websites, like Credible, have partners like Ascent. However, Sparrow has a few more lending options for students without a credit score.
• Graduate students: There is no income or cosigner required to apply for graduate student loans. However, if graduate students don’t have a positive credit history, they can apply with a co-signer to help them get approved. This is similar to other student loan comparison platforms.
• International students: Sparrow has a page dedicated to international students and partners with lenders like MPower that help fund international students. Other comparison websites focus more on U.S.-based undergraduate and graduate students. International students do not need a credit score, income, or employment to apply.
• Parents of students: Parents of students can apply independently using Sparrow, but Credible has more lending partners that offer parent loans.
• Refinancing: To refinance a student loan with Sparrow, your income should be $24,000 or more with good credit. If you don’t meet that criteria, apply with a cosigner. If you left school before graduating, you can still apply. Other platforms, like Credible, also partner with lenders that don’t require a degree to refinance.

Requirement	Detail
Credit history	No credit history needed for undergraduate or international student loans
Min. credit score	Varies by lender
Min. income	No income necessary for undergraduate or international student loans
Citizenship	Borrowers from more than 190 countries can pre-qualify

How does repayment work on a Sparrow student loan?

Sparrow is not a lender; it is a student loan marketplace where borrowers choose the best student loan company for their circumstances. Each lender offers their own repayment plans. 

Here are some examples of repayment plans lenders might offer:

• Fixed-loan payments: With fixed payments, borrowers pay the same amount every month towards their loans.
• Variable-loan payments: If you sign up for a loan with a variable interest rate, your payment can change, depending on the prime rate.
• Delayed payments: Some lenders won’t start payments until you’ve graduated, although your loans can still accrue interest.

Repayment examples:

Here is an example of what a fixed repayment plan could look like for a 10-year, $30,000 loan with a fixed 8% interest rate:

• You would accrue $200 of interest every single month, and your monthly payment would be around $364 per month. 

You can use a loan payment calculator to see how other terms would affect your monthly payment.

How does Sparrow compare to other student loan marketplaces?

Sparrow has some advantages, especially for international students who typically don’t qualify for federal student loans. However, compared to competitors like Credible and LendKey, it lacks some borrower-friendly features. Here’s what we recommend:

• Credible is the best choice if you want the most transparency about lender options and rates before applying. It also offers extra tools like free credit score monitoring, allows cosigners, and has over 8,000 Trustpilot reviews, making it the most established option.
• Sparrow is a strong option if you’re an international student or want another cosigner-friendly marketplace. While it doesn’t disclose as much information about its lending partners upfront, it provides a streamlined application process and is continuing to grow its reputation.
• LendKey is worth considering if you prefer borrowing from credit unions or community banks, which can sometimes offer lower interest rates or more flexible repayment terms than national lenders. However, LendKey is rated slightly lower than Sparrow and doesn’t offer as many lender options.

If reputation and user feedback are priorities, Credible is the strongest option with thousands of customer reviews. Sparrow, in contrast, is newer to the space but is gaining traction.

Sparrow customer reviews

Sparrow was founded in 2020 and is considered an early-stage company. Since its founding by Stanford classmates, the company has acquired key partnerships with lenders and raised nearly $6 million in its most recent funding round, according to Business Wire. 

However, as mentioned, Sparrow has very limited customer reviews online. The company is not listed on the Better Business Bureau website, but it is listed on Trustpilot. The Trustpilot rating is 4.3 out of 5, but the sample size is only 15 reviews.

Platform	Rating	# of Reviews
Trustpilot	4.3 out of 5	15

As the company grows, the number of ratings and reviews will grow, too, which will allow potential customers a more comprehensive review of what it’s like to use the platform. Until then, it’s hard to assess what the customer experience is like at Sparrow without a larger sample size.

Should you try Sparrow student loans?

If you want to apply for student loans or a student loan refinance with a cosigner, we recommend trying Sparrow. Sparrow allows you to apply for student loans jointly with a cosigner on the same application. Once you prequalify, you can go to your dashboard and add your cosigners information yourself.

Sparrow is also beneficial if you are an international student who wants to take out student loans to attend college or graduate school in the United States. In the past, it’s been challenging for international students to secure student loan funding, but Sparrow has options that have helped international students from over 100 countries.

A drawback is that Sparrow is still a relatively new company and is still adding lending partners. If you aren’t able to find a lender that meets your criteria, it’s a good idea to use a different student loan marketplace, like Credible. If you prefer to take out federal student loans, you’ll need to work directly with your college or university’s financial aid department.

How we rated Sparrow student loans

We designed LendEDU’s editorial rating system to help readers find companies that offer the best student loans. Our system awards higher ratings to companies with affordable solutions, positive customer reviews, and online transparency of benefits and terms.

We compared Sparrow to several student loan lenders and marketplaces, using hundreds of data points from company websites, public disclosures, customer reviews, and direct communication with company representatives. We weighted, scored, and combined each factor to produce a final editorial rating. This rating is expressed on a scale from 1 to 5, with 5 being the highest possible score. Our take is represented in our rating and best-for designation, recapped below.

Company/Product	Rating
Sparrow student loan marketplace	4.4/5