Credible is a San Francisco-based technology company that provides an online marketplace for student loans. It does for student loans what LendingClub does for personal loans and Funding Circle does for business loans by matching students (and their parents) with lenders. Credible was founded in 2012 by Stephen Dash who used to work as an investment banker for J.P. Morgan.

How Does Credible's Student Loans Work?

Credible helps borrowers find compatible lenders that meet their needs and requirements. It offers new student loans and refinancing of existing student loans. The service is entirely free for borrowers, because Credible makes money from the commissions paid by lenders, which doesn't change the rate borrowers receive.

Credible does not pull the credit of borrowers. However, lenders may choose to pull a borrower's credit to assess whether she meets the company's eligibility criteria. Having multiple pulls on your credit history can damage your credit score.

What Are Credible's Interest Rates?

Rates vary widely depending on the lender, the borrower's credit profile and the loan terms. Credible is not a direct lender so it cannot provide firm rates until a lender makes an offer. Credible can arrange loans with variable interest rates as low as 1.43% APR and fixed interest rates as low as 4.74%. Refinance loans has fixed rates as low as 3.74% APR.

How Much Money Can I Borrow from Credible?

Credible's lender will consider loan amounts ranging from $1,000 to the certified cost of attendance determined by your school.

Which States Does Credible Operate In?

Credible provides student loans to eligible borrowers in all 50 states.

What Is Credible's Application Process Like?

Borrowers must first answer five simple questions to see whether they qualify and estimate how much they will save by getting a loan through Credible. Applicants must then create a profile and provide more detailed personal and financial information. Credible lists the borrower's application on its database so that lenders can make personalized offers. Borrowers can then compare the lenders' offers and choose the one with the best terms and lowest interest rates.

How Is Credible Better than Other Lenders?

- Credible empowers borrowers by giving them the option to choose from a wide selection of top borrowers by only filling one application.

- The interest rates are low and terms are flexible because Credible's database of borrowers includes many top-tier lenders and also lenders that specialize in sub-prime borrowers. Even borrowers with less than perfect (as low as 620) may apply for a loan.

- The process is simple and is open to undergraduate students, graduate students, professionals and their parents.

- Credible is much more flexible when it comes to approving colleges and degree programs and allows borrowers to finance practically any degree.

- Some of Credible lenders provide special discounts and rewards for reliable borrowers and students with good grades.

  • Loan Term (Years)
    5 - 25
  • Min Loan
  • Variable APR
    1.43% - 0%
  • Fixed APR
    4.74% - 0%
  • Graduate Students
  • Parents
  • Undergraduate Students
  • Up to Cost of Attendance
  • New Loan
  • Refinance
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