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While you can use student loans and other financial aid to help pay for college, they might not be enough to cover all your expenses. In some cases, it might make sense to take out a personal loan to fill this kind of financial gap.
Here’s what you should know about personal loans for students:
- Personal loans for students
- Personal loans vs. student loans: Which to choose?
- Using student loans for personal expenses
- Can I get a personal loan as a student?
- How can a student get a small loan?
- Other ways to get funding for school
Personal loans for students
While you typically can’t use personal loans for education costs like tuition, they could help cover other expenses. For example, you could use a personal loan to pay for college textbooks, housing, and more.
Here are Credible’s partner lenders that offer personal loans:
| Lender | Fixed rates | Loan amounts |
|---|---|---|
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.
| 7.99% - 35.99% APR | $7,500 to $50,000 |
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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.
| 9.95% - 35.99% APR | $2,000 to $35,000** |
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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.
| 7.99% - 15.19% APR | $10,000 to $50,000 |
|
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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.
| 8.99% - 35.99% APR | $2,000 to $50,000 |
|
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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.
| 6.99% - 24.99% APR | $2,500 to $35,000 |
|
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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.
| 10.5% - 29.99% APR | $5,000 to $40,000 |
|
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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.
| 8.3% - 35.89% APR | $1,000 to $40,000 |
|
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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.
| 7.99% - 35.99% APR | $2,000 to $36,500 |
|
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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.
| 5.99% - 23.99% APR | $5,000 to $100,000 |
|
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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.
| 18.0% - 35.99% APR | $1,500 to $20,000 |
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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.
| 7.74% - 17.99% APR | $600 to $50,000 (depending on loan term) |
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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.
| 5.99% - 35.99% APR | $3,500 to $40,000 |
|
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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.
| 8.99% - 23.43% APR10 | $5,000 to $100,000 |
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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.
| 11.69% - 35.93% APR7 | $1,000 to $20,000 |
|
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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.
| 8.49% - 35.97% APR | $1,000 to $50,000 |
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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.
| 5.4% - 35.99% APR4 | $1,000 to $50,0005 |
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Achieve
Achieve personal loans range from $10,00 to $50,000 with repayment terms from two to five years. If you’re approved, you could get your funds in as little as two business days.
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.
Range of fixed rates available from this lender
Minimum credit score needed to qualify
Total amount you can borrow from this lender
How long it takes to receive your money
Ready to find a personal loan?
Compare rates from top personal loan lenders to find the right one for you.
Avant
If you have poor or fair credit, Avant might be a good option. You can borrow $2,000 to $35,000 with repayment terms from two to five years.
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.
Range of fixed rates available from this lender
Minimum credit score needed to qualify
Total amount you can borrow from this lender
How long it takes to receive your money
Ready to find a personal loan?
Compare rates from top personal loan lenders to find the right one for you.
Axos Bank
Axos Bank offers personal loans from $10,000 to $50,000 with terms from three to six years. If you’re approved, you could get your funds as soon as the next business day.
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.
Range of fixed rates available from this lender
Minimum credit score needed to qualify
Total amount you can borrow from this lender
How long it takes to receive your money
Ready to find a personal loan?
Compare rates from top personal loan lenders to find the right one for you.
Best Egg
With Best Egg, you can borrow $2,000 to $50,000 with terms from two to five years. Best Egg offers particularly competitive rates to borrowers with good to excellent credit — but you might still qualify with Best Egg with poor or fair credit.
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.
Range of fixed rates available from this lender
Minimum credit score needed to qualify
Total amount you can borrow from this lender
How long it takes to receive your money
Ready to find a personal loan?
Compare rates from top personal loan lenders to find the right one for you.
Discover
If you’re looking for a longer repayment term, Discover might be a good option — you can borrow $2,500 to $35,000 with terms from three to seven years. Just keep in mind that choosing a longer term means you’ll pay more interest over time.
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.
Range of fixed rates available from this lender
Minimum credit score needed to qualify
Total amount you can borrow from this lender
How long it takes to receive your money
Ready to find a personal loan?
Compare rates from top personal loan lenders to find the right one for you.
LendingClub
If you need a cosigner, LendingClub might be a good option — it’s one of the few lenders that allow cosigners on personal loans. You can borrow $1,000 to $40,000 with a term of three or five years.
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.
Range of fixed rates available from this lender
Minimum credit score needed to qualify
Total amount you can borrow from this lender
How long it takes to receive your money
Ready to find a personal loan?
Compare rates from top personal loan lenders to find the right one for you.
LendingPoint
LendingPoint specializes in working with borrowers who have near-prime credit — usually meaning a credit score in the upper 500s or 600s. You can borrow $2,000 to $36,500 with repayment terms from two to six years.
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.
Range of fixed rates available from this lender
Minimum credit score needed to qualify
Total amount you can borrow from this lender
How long it takes to receive your money
Ready to find a personal loan?
Compare rates from top personal loan lenders to find the right one for you.
LightStream
LightStream could be a good choice if you need a large loan amount — you can borrow $5,000 to $100,000 with terms from two to seven years. If you’re approved, you could get your funds as soon as the same business day.
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.
Range of fixed rates available from this lender
Minimum credit score needed to qualify
Total amount you can borrow from this lender
How long it takes to receive your money
Ready to find a personal loan?
Compare rates from top personal loan lenders to find the right one for you.
OneMain Financial
Unlike many other personal loan lenders, OneMain Financial has no minimum required credit score. It will also consider your financial history, income, expenses, and loan purpose in addition to your credit history to determine your eligibility.
You can borrow $1,500 to $20,000 with terms from two to five years. Keep in mind that larger loan amounts might require collateral.
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.
Range of fixed rates available from this lender
Minimum credit score needed to qualify
Total amount you can borrow from this lender
How long it takes to receive your money
Ready to find a personal loan?
Compare rates from top personal loan lenders to find the right one for you.
PenFed
If you need to borrow only a small amount, PenFed could be a good choice — you can borrow as little as $600 up to $50,000 with terms from one to five years. Keep in mind that while you don’t have to be a PenFed member to apply, you’ll have to join the credit union if you’re approved and decide to accept the loan.
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.
Range of fixed rates available from this lender
Minimum credit score needed to qualify
Total amount you can borrow from this lender
How long it takes to receive your money
Ready to find a personal loan?
Compare rates from top personal loan lenders to find the right one for you.
SoFi
SoFi is another lender that offers large personal loans — you can borrow $5,000 to $100,000 with terms from two to seven years. Additionally, SoFi borrowers have access to several perks, such as unemployment protection, career coaching, and investing advice.
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.
Range of fixed rates available from this lender
Minimum credit score needed to qualify
Total amount you can borrow from this lender
How long it takes to receive your money
Ready to find a personal loan?
Compare rates from top personal loan lenders to find the right one for you.
Universal Credit
With Universal Credit, you can borrow $1,000 to $50,000 with repayment terms of three to five years. You may be able to qualify even with fair or bad credit, and the lender can fund loans within one day of approval.
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.
Range of fixed rates available from this lender
Minimum credit score needed to qualify
Total amount you can borrow from this lender
How long it takes to receive your money
Ready to find a personal loan?
Compare rates from top personal loan lenders to find the right one for you.
Upgrade
With Upgrade, you can borrow $1,000 to $50,000 with terms from two to six years. Upgrade also provides free credit monitoring and educational resources, which could help you build your credit as a college student.
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.
Range of fixed rates available from this lender
Minimum credit score needed to qualify
Total amount you can borrow from this lender
How long it takes to receive your money
Ready to find a personal loan?
Compare rates from top personal loan lenders to find the right one for you.
Upstart
In addition to your credit score, Upstart will consider your education and job history to determine your eligibility — which means you might qualify even if you have little to no credit.
You can borrow $1,000 to $50,000 with Upstart.
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.
Range of fixed rates available from this lender
Minimum credit score needed to qualify
Total amount you can borrow from this lender
How long it takes to receive your money
Ready to find a personal loan?
Compare rates from top personal loan lenders to find the right one for you.
Learn More: Using Student Loans for Housing, Living Expenses, and More
Personal loans vs. student loans: Which to choose?
You can use both personal loans and student loans to cover expenses while attending college, but they have some differences to keep in mind. Here’s how both types of loans work:
Personal loans
You can use a personal loan for almost any personal expense. Most personal loans are unsecured — meaning you won’t have to worry about collateral — and generally range from $600 to $100,000 or more.
You’ll typically need good to excellent credit and verifiable income to get approved for a personal loan.
Personal loans can have much higher interest rates than student loans, which can make them an expensive option by comparison. Additionally, personal loans don’t come with a deferment option, so you’ll have to start making payments as soon as the loan is disbursed.
Check Out: Best Student Loans for Bad Credit
Student loans
Both federal and private student loans are specifically designed to help borrowers pay for college. It’s usually a good idea to take out federal loans first since they come with federal protections, such as access to income-driven repayment plans and student loan forgiveness programs. You can then use private student loans to fill any financial gaps left over.
Here are the types of student loans you might be able to get:
- Federal Direct Subsidized Loans are available to undergraduate borrowers with financial need. The government pays the interest on subsidized loans while you’re in school.
- Federal Direct Unsubsidized Loans are available to both undergraduate and graduate students regardless of financial need. Unlike with subsidized loans, you’re responsible for all the interest that accrues on unsubsidized loans.
- Federal Direct PLUS Loans are available to students who need to pay for grad school and parents who want to cover their child’s education costs. Unlike other types of federal student loans, PLUS Loans require a credit check.
- Private student loans are offered by private lenders. To get approved for a private loan, you’ll generally need either good to excellent credit or a cosigner who has good credit.
| Personal loans | Federal student Loans | Private student loans | |
|---|---|---|---|
| Loan amounts | $600 to $100,000 (with Credible partner lenders) |
| Up to school’s cost of attendance minus other financial aid you’ve received (depending on the lender) |
| Credit required? | Good to excellent credit | Typically no credit required (PLUS Loans require a credit check) | Good to excellent credit (or have a cosigner with good credit) |
| Eligibility | Must have:
|
| Must have:
|
| Time to disbursement | Typically one week (depending on the lender) | At least once per term or semester, generally within 30 days of the first day of classes | 3 weeks up to 3 months |
| Loan uses | Any personal expense (typically can’t be used for postsecondary expenses like tuition) | Education expenses (including personal expenses while attending school) | Education expenses (including personal expenses while attending school) |
| Allow cosigners? | Depends on the lender | No | Yes |
Using student loans for personal expenses
To attend college, you won’t only have to pay for tuition and fees — you’ll likely also have to cover personal expenses like college housing, textbooks, and transportation. Because of this, you can use both federal and private student loans for personal expenses while you’re going to school.
With private student loans, you might be able to borrow up to your school’s cost of attendance, depending on the lender.
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 your needs. Credible makes this easy — you can compare your prequalified rates from multiple lenders 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.
| 4.62%+10 | 5.86%+10 | $2,001 to $400,000 | 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.
| 4.99%+1 | 5.1%+ | $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.
|
4.74%+2,3
| 4.74%+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.
| 3.65%+ | 5.67%+ | $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.
| 7.52%+7 | 6.99%+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.
| 4.37%+8 | 5.86%+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.
| 4.89%+ | 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.
| 4.509 - 14.83%9 | 5.49%9 - 15.83%9 | $1,000 up to 100% of school-certified cost of attendance | 10 to 20 |
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your credit score. 100% free! |
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Check Out: 8 Best Small Student Loans
Can I get a personal loan as a student?
Yes, you might be able to get a personal loan as a student. But you’ll typically need to have good to excellent credit as well as verifiable income to get approved — this could be difficult for students who have little to no credit history or income.
Even if you don’t need a cosigner to qualify, having one could get you a lower interest rate than you’d get on your own.
If you decide to take out a personal loan, it’s important to consider how much that loan will cost you. This way, you can be prepared for any added expenses. You can estimate how much you’ll pay for a loan using our personal loan calculator below.
Enter your loan information to calculate how much you could pay
With a $ loan, you will pay $ monthly and a total of $ in interest over the life of your loan. You will pay a total of $ over the life of the loan.
Need a personal loan?
Compare rates without affecting your credit score. 100% free!
Checking rates won’t affect your credit score.
Learn More: Low-Interest Student Loans
How can a student get a small loan?
If you need only a small amount to help you pay for your educational or living expenses, both personal loans and student loans can be an option.
- Personal loans are available for as little as $600, depending on the lender. When you apply for a loan, you can ask for only the amount you need.
- Student loans typically come in higher loan amounts, but you should borrow only as much as you need. If you still end up with more money than you want, you might be able to return it, depending on the type of loan you have. Or you can simply pay it back as a payment to reduce your loan amount.
Check Out: Taking Out Student Loans Without a Cosigner
How to get a personal loan
If you’re ready to apply for a personal loan, follow these four steps:
- Shop around and compare lenders. Be sure to compare as many personal loan lenders as you can to find the right loan for you. Consider not only interest rates but also repayment terms, any fees the lender charges, and eligibility requirements.
- Choose your loan option. After comparing lenders, pick the loan option that works best for you.
- Complete the application. Once you’ve chosen a lender, you’ll need to fill out a full application and submit any required documentation, such as tax returns or pay stubs.
- Get your funds. If you’re approved, your lender will have you sign for the loan so the funds can be released to you. The time to fund a personal loan is usually about one week — though some lenders will fund loans as soon as the same or next business day after approval.
How to get a student loan
If you decide to take out a student loan, follow these four steps:
- Fill out the FAFSA. If you need to pay for college, your first step should be completing the Free Application for Federal Student Aid (FAFSA). Your school will use your FAFSA information to determine what federal financial aid you qualify for.
- Apply for scholarships and grants. Unlike student loans, college scholarships and grants don’t have to be repaid — which means they’re essentially gift aid for school. There’s also no limit to how many scholarships and grants you can get, so it’s a good idea to apply for as many as you might be eligible for. You might also qualify for scholarships from your school, depending on your FAFSA information.
- Accept federal student loans. Once you’ve completed the FAFSA, your school will send you a financial aid award letter detailing the federal student loans and other federal aid you’re eligible for. You can then choose which aid to accept.
- Use private student loans to fill the gaps. After you’ve exhausted your scholarship, grant, and federal student loan options, private student loans can help fill any financial gaps left over. Be sure to shop around and compare as many lenders as possible to find a private loan that best suits your needs.
Regardless of whether you get a federal or private student loan, it’s important to consider how much that loan will cost you in the future. This way, you can be prepared for whatever expenses come your way.
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.
Enter your loan information to calculate how much you could pay
With a $ loan, you will pay $ monthly and a total of $ in interest over the life of your loan. You will pay a total of $ over the life of the loan, assuming you're making full payments while in school.
Need a student loan?
Compare rates without affecting your credit score. 100% free!
Checking rates won’t affect your credit score.
Other ways to get funding for school
Keep in mind that loans are far from the only way to pay for tuition and school-related expenses. You can also consider grants, scholarships and credit cards — although some of these options are better than others.
When you complete the FAFSA, your school will use the information you provide to determine if you’re eligible for any federal grants or scholarships. They may also offer you state- or school-level scholarships and grants. And you can always apply on your own for specific scholarships and grants that aren’t directly awarded by your school.
Think twice, however, about using credit cards to pay for school expenses. Credit card interest rates are typically higher than interest rates on other types of credit, like student loans or personal loans. It’s best to avoid credit card debt whenever possible because it’s the kind of debt that’s more likely to undermine your financial well-being than it is to help you build credit.
About Rates and Terms: Rates for personal loans provided by lenders on the Credible platform range between 5.40%-35.99% APR with terms from 12 to 84 months. Rates presented include lender discounts for enrolling in autopay and loyalty programs, where applicable. Actual rates may be different from the rates advertised and/or shown and will be based on the lender’s eligibility criteria, which include factors such as credit score, loan amount, loan term, credit usage and history, and vary based on loan purpose. The lowest rates available typically require excellent credit, and for some lenders, may be reserved for specific loan purposes and/or shorter loan terms. The origination fee charged by the lenders on our platform ranges from 0% to 10%. Each lender has their own qualification criteria with respect to their autopay and loyalty discounts (e.g., some lenders require the borrower to elect autopay prior to loan funding in order to qualify for the autopay discount). All rates are determined by the lender and must be agreed upon between the borrower and the borrower’s chosen lender. For a loan of $10,000 with a three year repayment period, an interest rate of 7.99%, a $350 origination fee and an APR of 11.51%, the borrower will receive $9,650 at the time of loan funding and will make 36 monthly payments of $313.32. Assuming all on-time payments, and full performance of all terms and conditions of the loan contract and any discount programs enrolled in included in the APR/interest rate throughout the life of the loan, the borrower will pay a total of $11,279.43. As of March 12, 2019, none of the lenders on our platform require a down payment nor do they charge any prepayment penalties.
We encourage you to provide honest and thorough feedback about your experience (not the experiences you’ve heard from other people), the good as well as the bad. But, we also want you to follow these content guidelines. The comments or responses that Credible posts under its official account are not provided, reviewed or endorsed by any of the financial institutions unless specifically stated otherwise in the response. Please keep in mind that the financial institution has no obligation to monitor any comments, questions or reviews you post and is therefore not responsible for ensuring your posts and/or questions are answered.