Shopping for the best private student loan can be hard work. Many students, parents, and cosigners end up applying for multiple loans so they can review interest rates and terms. That takes a long time, and it is a real hassle. Credible can save you from that time-consuming process. Credible is an online comparison platform that allows you to check terms and rates from various lending companies. Once you find a lender that suits your needs, you can proceed to the lender’s website to start an application.

It sounds good on paper, but what can you expect if you use Credible? Take a minute to read this Credible student loans review.

How It Works

The Credible student loan comparison tool is quick and easy to use. In fact, it takes around two minutes to complete the process. You will need to fill out a form that includes your financial and educational history. Then, it will search for prequalified offers that meet your needs and criteria.

If you have poor credit, the company might not be able to find any prequalified offers for you. However, if your credit is solid or if you add a cosigner, a list of your offers will be displayed. You will get rates from up to four lenders with a single application. You can then compare all of the rates and choose a lender.

At that point, you can apply for your student loan with the lender of your choice. You will import your information and provide some more so the lender can run a hard check on your credit history. Unlike the soft check run by Credible, this check will impact your credit score. That is why it is so important to find the right lender before applying for the loan.

Loan Types

Along with traditional private student loans, Credible also compares lenders who offer student loan refinancing. The process works the same way, but instead of getting rates from up to four lenders, Credible compares up to six lenders. You can use this tool to find refinancing options for federal, private, and Parent PLUS loans. You need to owe at least $5,000 to qualify for refinancing. Finally, Credible also lets you look for personal loans on the website. You can check rates from up to five lenders. There are more lenders in the overall marketplace than four or six companies, but Credible only shows the offers from its partners, explaining the low number of companies.

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Benefits of Credible

The best thing about Credible is it makes it easy to comparison shop without spending a lot of time. This allows people to find some of the best rates out there. If you’re applying to refinance your loans, you can expect to find some of those most competitive current rates on the market from the lenders that deal with Credible. Of course, you will pay a higher APR if your credit doesn’t qualify you for the lowest interest rate.

It’s also good that the site lets you get pre-approved without hurting your credit. If you apply for a bunch of different student loans, your credit will take a serious hit. By looking for preapprovals instead, you can find out what is out there without hurting your credit.

This site also makes it easy to find a loan at the term you want. With loan terms that range from 5 to 20 years, you can pay your loan off as quickly or slowly as you like. That way, you won’t get overwhelmed when you take on the debt.


You won’t have to pay any fees directly to Credible. However, Credible doesn’t operate for free. Instead of charging its customers fees, the lenders pay a finder’s fee of sorts to Credible. Whether this expense is factored in to the total cost of a loan through Credible is uncertain.

It’s also important to note that different lenders charge different fees, so it all comes down to which lender you choose for your loan. You might not have to pay any fees, or you might have to pay a small or even a large fee. That is why it is so important to do your research before choosing one of the lenders that Credible finds for you.

Should You Choose Credible?

Credible is an excellent starting point for finding the right private student loan. You will get access to multiple lenders and be able to find some of the best rates in the business. Fill out an application with Credible to find out where your credit will take you. You might be surprised by the options the site finds for you. Your student loan just might be more affordable than you expect.