If you’re looking to take out a student loan to pay for college, you’ll definitely want to check out Credible. Their website helps you find private student loans by comparing the different interest rates, repayment plans, and more through their simple-to-use application. Before you use their service though, here are four things you need to know about Credible student loans.
Their Process Takes Just a Few Moments
When it comes to applying for a new loan, Credible makes it quick and easy. You’ll be asked to input information about your school, graduation date, financial situation, and with a few bits of personal info, you’ll see your prequalified rates instantly.
Although it can help to have a co-signer present, Credible can also send them an invite digitally to complete their portion of the form in their own time. You can even check out your rates with a number of different co-signers, to see which co-signer helps you get the best rate.
It’s also good to know that Credible’s application is a soft credit check, and won’t affect your credit score.
You’ll Be Able to Compare Loan Options
If you’re just starting out the search for student loans, Credible is a great place to begin. After you input your information into their form, they will show you different options that can work for you. When you apply, they will show you offers from up to 5 different banks or lenders.
You can narrow down the suggested options by choosing between rate type (fixed or variable), the term (5 to 20 years), and the monthly payment amount. Credible will then show you your results and allow you to see how each loan stacks up against the other.
There are No Origination or Service Fees
Another benefit that comes with Credible is the lack of fees. The service is free to use, as is customer service. There also won’t be origination fees or prepayment penalties if you decide to get a loan through one of the lenders.
They Offer Great Customer Support
They also have a strong customer support system. Based out of San Francisco and Durham, North Carolina, you can reach them seven days a week via phone, chat, text, or email. Their system also has a three way phone option where you can talk to someone at Credible at the same time as someone from your lender so that Credible can help you manage the loan process all the way through completion.
Credible Offers Great Refi Options Too!
Ready to refinance, or just getting a head start on your loan repayment planning? Check out our review of refinancing loans through Credible!
Are Credible Student Loans Right for You?
Credible has a great way to check out your student loan options without going to each individual lender and getting a quote. Instead, you can sign up on one website and get the much needed, accurate information when choosing a student loan or refinancing your current ones.
If you’re just getting started on your search for a student loan, you may also want to check out the Student Loan Finder on College Raptor. You can use the search terms to determine what type of loan best fits your needs and find options that work for you.