Credible Student Loan and Refinancing Review

Sought after for its exclusive list of lenders without setup fees or origination fees, this lender matching marketplace creates personalized loan options for students who wish to pay off their debts any way they like.

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    The network of lenders itself is comprised of prestigious credit unions, banks and private lenders in the financing industry. They also have mortgage loans, mortgage refinancing, personal loans, and credit card offers.

    Whether you are a graduate or currently enrolled, you can select a lender that offers you the best rates, terms, and conditions to meet your borrowing criteria.

    The biggest merits of Credible are the easy application process and the instant pre-qualification rates.

    We were impressed by the lowest APRs on fixed and variable rate loans too.

    Our Credible Student Loan review outlines the pros and cons of choosing this marketplace for paying your student loans over the others.

    We have also described the eligibility criteria and application process of the student loan comparison website so that you can get started quickly.  

    Credible Review

    A student loan matching and refinancing platform, the Credible team features a combined experience of 30 years. This San Francisco-based service was founded in 2012 by Stephen Dash to help students consolidate their student loan debts efficiently and has since been bought by Fox Corporation. At present, they have 1.23 million users across its comparison offerings.

    Credible does not operate as a lender or bank, but instead as a student loan matching marketplace that connects students with approved lenders. One aspect that we were drawn to was the well-designed student loan refinancing options available within their network.

    Another aspect that surprised us was that they send a gift card as a bonus when you finish refinancing your student loan.

    By strictly screening each lender, bank and credit union, Credible has a reputation for listing the top-rated lenders in the market. Registered members can finance any degree on this loan matching marketplace with or without a cosigner. In addition, you can choose from fixed-rate or flexible tenures after doing a thorough comparison between lenders you are interested in.

    If you’re a student in need of funds for educational expenses, living costs, tuition fees or even rent, start exploring them to compare possible financing options for your degree.

    Why Get a Student Loan From Credible?

    When stacked up against competitors, one of the best advantages of Credible is that they do soft credit checks and no hard credit checks like many loan matching platforms. As a result, your credit score will not suffer while you search for a lender, unlike other platforms.

    On top of it, you will receive custom quotes on your student loan requests directly with pre-qualified offers, without any risks or commitment.

    What’s more, there are no setup fees or obligations.

    It is safe to use this lender-funded website as it uses transport layer security (TLS) security to keep your information safe. One of the major reasons to explore Credible for Private Student Loans is if you prefer the safety of reputable lenders like Ascent, INvestED, Sallie Mae, SunTrust Bank, and many more.

    Moreover, you can depend on qualified representatives from the San Francisco-based customer service team whenever you encounter difficulties.

    Ultimately, their interest rates and terms depend on the lender given the service itself is not a lender. Still, as a loan matching marketplace dedicated to delivering the utmost transparency, we were impressed to see that they are accredited by the Better Business Bureau and received an A+ rating.  

    What Student Loans Does Credible Offer?

    We are enthusiastic about the accessibility of Credible as it suits students looking for a helping hand to pay for their undergraduate, graduate or professional degrees. Being completely free for student borrowers is not even the best bit about this website. Lenders within the network ensure you can borrow up to 100% of the loan costs with a private student loan, unlike a federal loan.

    We found two private student loans on this marketplace that are immensely attractive for prospective and current college students.

    • Independent: Ideal for students seeking ways to finance their educational expenses with Credible lenders.
    • Co-Signer: Perfectly suited for co-signers who wish to collaborate with a student on their loan to help access better rates and terms.

    Student Loan Refinancing Information January 2021

    Credible offers refinancing for Private, ParentPLUS and Federal student loans to lower your interest rates, pay off debts, and relieve the co-signer. What we liked most was that you can refinance your student loans on this website even if you did not graduate.

    When you click on ‘Get Started’, you will be greeted with a personal assistant who will guide you through a question and answer session. This 3-minute form helps the lender understand the depth and details of your outstanding student loans using your educational information, credit score, debt-to-income ratio and loan amount.

    Major lenders participating in refinancing that you will find on Credible including Advantage Education Loan, Citizens Bank, College Ave, EDvestinU, ELFI, MEFA, RISLA, SoFi and more.

    Rate Range: 

    Rate range, 1.93%-8.24% APR

    If displaying single rates or “rates starting at” language, lowest available advertised rate is 2.79% APR (with autopay)* and 2.25% Var. APR (with autopay)*

    Private Student Loans On Credible

    Offering both fixed and variable interest rates for private student loans, Credible will provide you matching loans based on your educational qualifications, income, and finances. You will also get special discounts when you complete the loans too.

    • Independent: This loan is designed for students who are enrolled in any educational program full-time or part-time. You will find up to 10 lenders with pre-qualified rates for your loan requests.
    • Co-Signer: Best for easily adding the student to your application as multiple lenders permit co-signer release. A co-signer can be a parent, spouse, or relative of the student, or a resident of the United States. Make sure to provide details of income (not above $9,999,999), monthly housing bills, and income from other household members for the lenders to properly assess a co-signer’s creditworthiness.

    More About Rates and Fees For Credible Loan options - January 2021

    While they are renowned for their absence of setup fees, they are also best for finding lenders without paying penalties.

    The variable and fixed interest rates for student loans are based on the type of loan you take and its repayment length aside from your qualifications.

    The loan amount and interest terms quoted by lenders are independent of Credible and solely based on your financial status, credit history, and educational necessities.

    Please keep in mind to discuss all the terms of your private student loan and refinancing needs with the lender you choose, as Credible is not a part of your agreement.

    If you’re choosing a Private Student Loan,

    Displaying a rate range, 1.04%-13.19% APR

    If displaying single rates or “rates starting at” language, lowest available advertised rate is  3.49% APR (with autopay)* and 1.04% Var. APR (with autopay)*

    They recommend the ideal credit score of 670 to 700 for students to successfully match with a lender for refinancing student loans.

    The loan duration for student loans found through their network of lending partners may range from 5 years to 20 years depending on the lender. You can also choose from multiple repayment options such as Immediate (full payments after origination), interest-only (pay interest only while in school), flat-in-school (periodic payment lesser than the full amount while in school) or full deferral (delay all the payments until after graduation).

    Credible Pros and Cons


    • Choose from pre-qualified offers from up to 9 lenders after filling out a 2-minute form
    • Pay zero origination fees, zero service fees, and zero prepayment Penalties regardless of the lender you select
    • Easily add a co-signer to the loan application if your credit score is lower or you wish to access better interest rates
    • Refinancing options available for students who did not graduate, but are still enrolled
    • Transparent and detailed lender profiles help you learn more before signing the agreement
    • Receive a $750 gift card bonus when you close your student loan successfully


    • The pre-qualified rates you receive instantly on Credible are not guarantees, but merely potential rates
    • Credible is not a bank or a lender and it has not partnered with any lenders

    How to apply for a Credible Student Loan

    Known for their hassle-free and quick application process, Credible is simple to sign up with. Depending on whether you want a private student loan, student loan refinancing, or refinancing for other debts, you can choose your option on the home page.

    Answer their 3-minute questionnaire detailing your basic information, educational qualifications, school or college details and income history to create your student loan request. Within minutes, you will receive quotes from lenders you can consider practically.

    They are one of the few student loan matching services that can help you even with a bad credit history. All you need to do is invite co-signers to your application and handpick the co-signer with the best terms. Another reason to sign up with a co-signer is if you do not have any regular employment at present.

    To ensure you qualify for the private student loan on Credible, you must comply with the following eligibility requirements.

    • You/ Co-Signer must be a citizen of the US
    • You must be 18+ in age

    If you’re not 18, you will require a cosigner to get the private student loan processed.

    The eligibility condition for student loan refinancing is that you should have at least $5,000 in student loan debts.


    With over 2200+ eligible schools on its list, it is easy to apply for student loans or refinance existing loans with Credible.

    You can also get personal loans for $1,000 to $100,000 with APR rates starting as low as 4.99%.

    With some of the lowest rates for variable and fixed-interest loans, we appreciate that they award students who successfully close their loans with a gift card bonus.

    Check Rates for Credible