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Whether you need a credit score to take out a student loan depends on the type of student loan you get — federal student loans mostly don’t require a credit score while private student loans do.
Here’s what you should know about the credit score needed for student loans:
- Do I need a credit score for a federal student loan?
- Do I need a credit score for a private student loan?
- What credit score is needed to refinance student loans?
- Frequently asked questions
Do I need a credit score for a federal student loan?
Most federal student loans — including Direct Subsidized and Unsubsidized Loans — don’t require a credit check. This makes them a good option for students who need help paying for school but who don’t yet have established credit histories.
However, if you’d like to take out a Direct PLUS Loan, you’ll have to undergo a credit check. While you don’t need a specific credit score to qualify for a PLUS Loan, you can’t have an adverse credit history.
This means you can’t have any negative information on your credit report — such as foreclosures, tax liens, or bankruptcies — for a certain period of time.
Tip: To apply for a federal student loan, you’ll need to fill out the Free Application for Federal Student Aid (FAFSA). Your school will use your FAFSA results to determine what federal student loans and other federal financial aid you’re eligible for.
Learn More: Grad PLUS Loans: PLUS Loans for Graduate Students
Do I need a credit score for a private student loan?
Unlike federal student loans that are provided by the government, private student loans are offered by private lenders that set their own requirements. While these eligibility criteria can vary by lender, you’ll generally need good to excellent credit to get approved — a good credit score is usually considered to be 700 or higher.
Your credit score is also used by lenders to determine what interest rates you qualify for. In general, the better your credit, the lower your interest rate.
Tip: If you’re struggling to get approved, consider applying with a cosigner to improve your chances. In fact, because many college students don’t yet have established credit histories, most private student loans are cosigned.
Even if you don’t need a cosigner to qualify, having one could get you a better interest rate than you’d get on your own.
If you decide to take out a private student loan, be sure to consider as many lenders as possible to find the right loan for you. Credible makes this easy — you can compare your prequalified rates from our partner lenders in the table below in two minutes.
| Lender | Fixed Rates From (APR) | Variable Rates From (APR) | Loan amounts | Loan terms (years) |
|---|---|---|---|---|
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 3.20%+ | 1.80%+ | $2,001 to $200,000 | 7 to 20 |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 3.49%+1 | 1.04%+1 | $1,000 to $350,000 (depending on degree) | 5, 10, 15 |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 3.34%+2,3 | 1.04%+2,3 | $1,000 up to 100% of the school-certified cost of attendance | 5, 8, 10, 15 |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 4.14%+ | 1.16%+ | $1,000 to $99,999 annually ($180,000 aggregate limit) | 7, 10, 15 |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 3.00%+7 | 2.19%+7 | $1,000 to $200,000 | 7, 10, 15 |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 3.83%+8 | 1.56%+8 | $1,001 up to 100% of school certified cost of attendance | 5, 10, 15 |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 3.75%+ | N/A | $1,500 up to school’s certified cost of attendance less aid | 15 |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 4.25%+ | 1.13%+ | Up to 100% of the school-certified cost of attendance | 15 |
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What credit score is needed to refinance student loans?
Refinancing your student loans is when you pay off your old student loans with a new loan — leaving you with just one loan and one payment. While the requirements for refinancing can vary by lender, you’ll typically need:
- Good to excellent credit: This generally means a credit score of 700 or higher. Several lenders also offer refinancing for bad credit, but these loans typically come with higher interest rates.
- Verifiable income: Lenders want to see that you can afford to repay your loan. Some lenders have a minimum required income while others don’t — but in either case, you’ll likely have to show proof of income.
- Low debt-to-income ratio: Your debt-to-income (DTI) ratio is the amount you owe in debt payments each month compared to your income. You’ll generally need a DTI ratio of 50% or under — though some lenders might require ratios lower than this.
Tip: Like with private student loans, you also have the option to apply for refinancing with a cosigner. Not only could this help you get approved if you have bad credit, but it might also qualify you for a lower interest rate than you’d get if you applied alone.
If refinancing seems like a good fit for you, be sure to shop around and compare as many lenders as you can to find a loan that best suits your needs. This is easy with Credible — you can see your prequalified rates from our partner lenders in the table below after filling out a single form.
| Lender | Fixed rates from (APR) | Variable rates from (APR) | Loan terms (years) | Loan amounts | Min. credit score |
|---|---|---|---|---|---|
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 4.54%+ | N/A | 10, 15, 20 | $7,500 up to $200,000 (larger balances require special approval) | Does not disclose |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 2.85%+ | 1.88%+ | 5, 7, 10, 15, 20 | $10,000 up to $250,000 (depending on degree) | 690 |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 2.39%+<sup1 | 2.24%+1 | 5, 7, 10, 15, 20 | $10,000 to $500,000 (depending on degree and loan type) | Does not disclose |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 2.99%+2 | 2.94%+2 | 5, 7, 10, 12, 15, 20 | $5,000 to $300,000 (depending on degree type) | Does not disclose |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 2.16%+ | 2.11%+ | 5, 7, 10, 15, 20 | $5,000 to $500,000 | 680 |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 2.58%+3 | 2.39%+ | 5, 7, 10, 12, 15, 20 | Minimum of $15,000 | 680 |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 3.47%+4 | 2.46%+ | 5, 10, 15, 20 | $5,000 to $250,000 | 670 |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 2.74%+5 | N/A | 5, 7, 10, 12, 15, 20 | Up to $300,000 | 670 |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 3.05%+ | 3.05%+ | 7, 10, 15 | $10,000 up to the total amount of qualified education debt | 670 |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 2.89%+ | N/A | 5, 8, 12, 15 | $7,500 to $300,000 | 670 |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 3.29%+ | N/A | 5, 10, 15 | $7,500 up to $250,000 (depending on highest degree earned) | 680 |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 2.74%+6 | 2.25%6 | 5, 7, 10, 15, 20 | $5,000 up to the full balance of your qualified education loans | Does not disclose |
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All APRs reflect autopay and loyalty discounts where available | 1Citizens Disclosures | 2College Ave Disclosures | 3 ELFI Disclosures | 4INvestEd Disclosures | 5ISL Education Lending Disclosures | 6SoFi Disclosures |
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| Compare personalized rates from multiple lenders without affecting your credit score. 100% free! |
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Frequently asked questions
Here are the answers to a few commonly asked questions about credit scores for student loans:
How do I check my credit score?
You’re entitled to get a free copy of your credit report from each of the three credit reporting bureaus — Equifax, Experian, and TransUnion — once per year.
You can use a site like AnnualCreditReport.com to easily request these reports and review your credit history. If you find any errors in your credit reports, dispute them with the appropriate credit bureaus to potentially boost your score.
However, your credit reports generally don’t include your credit score. You might be able to check your credit score for free through your bank, credit card issuer, or services like Credit Karma or Mint. Or you can request your score directly from the credit bureaus.
Tip: It’s a good idea to regularly monitor your credit score. This way, you can keep an eye on any changes as well as look out for errors or fraud.
Learn More: Taking Out Student Loans Without a Cosigner
How can I get a student loan with bad credit?
If you have bad credit, there are still student loan options available to you, including:
- Federal student loans: Most federal loans don’t require a credit check, so you don’t have to worry about having poor credit.
- Cosigned private student loans: Applying for a private student loan with a cosigner can improve your chances of getting approved if you have poor credit. Having a cosigner might also qualify you for a better interest rate.
There are also private lenders that offer student loans for bad credit. However, these loans typically come with higher interest rates compared to good credit loans, which could drive up the overall cost of your loan.
You can find out how much you’ll owe over the life of your federal or private student loans using our student loan calculator below.
Compare student loan rates from top lenders
See Your Rates
Checking rates will not affect your credit
Check Out: Low-Interest Student Loans
Can you get denied for student loans?
Yes, it’s possible to be denied a loan if you don’t meet the student loan requirements. Here are a few possible options to consider if you don’t qualify:
- Apply for scholarships and grants. Unlike student loans, scholarships and grants don’t have to be repaid, which makes them a good way to pay for college. They also don’t consider your credit score.
- Find a cosigner. If you apply with a creditworthy cosigner, their good credit could make it easier to get approved for a private student loan.
- Improve your credit. Building your credit can improve your chances of qualifying in the future. Some ways to do this include making on-time payments on all of your bills or becoming an authorized user on the credit card account of someone you trust.
Learn More: What to Do If You’re Denied a Student Loan With a Cosigner
What credit score is needed to cosign a student loan?
Because a cosigner shares responsibility for the loan, they need to show that they can manage the loan. This includes having good to excellent credit — usually a credit score of at least 670 or higher — as well as reliable income and a low DTI ratio.
Keep in mind that individual lenders might also have their own requirements for student loan cosigners.
Tip: Many students ask one of their parents to cosign their student loan. However, if your parent doesn’t have good credit or isn’t comfortable cosigning, don’t worry — a cosigner can actually be anyone with good credit. For example, you could ask another relative or a trusted friend.
Just remember that your cosigner will be on the hook for the loan if you can’t make your payments.
If you decide to take out a private student loan, remember to consider as many lenders as you can. This way, you can find a loan that’s right for you. Credible makes this easy — you can compare your prequalified rates from multiple lenders in two minutes.
Compare student loan rates from top lenders
See Your Rates
Checking rates will not affect your credit
Keep Reading: Student Loan Limits: How Much in Student Loans You Can Get
