{"id":61680,"date":"2022-05-03T10:48:26","date_gmt":"2022-05-03T17:48:26","guid":{"rendered":"https:\/\/www.credible.com\/blog\/?p=61680"},"modified":"2023-06-09T09:09:18","modified_gmt":"2023-06-09T16:09:18","slug":"8-student-loans-for-an-engineering-degree","status":"publish","type":"post","link":"https:\/\/www.credible.com\/blog\/student-loans\/engineering-student-loans\/","title":{"rendered":"8 Student Loans for an Engineering Degree"},"content":{"rendered":"

Engineering degrees open doors to many career options, including work in math, social sciences, biotechnology, computers, environmental engineering, and aeronautics. Engineering might be an excellent option for you if you love lifelong learning, as engineers need to stay up to date on emerging technologies and new data. <\/p>\n

But engineering degrees are expensive to earn. Among the top three schools ranked as the best for engineering degrees by U.S. News, annual tuition ranges from $26,544 to $57,861. <\/p>\n

The companies in the table below are Credible\u2019s approved partner lenders. Whether you\u2019re the borrower or cosigner, Credible makes it easy to compare rates from multiple private student loan providers without affecting your credit score.<\/p>\n\n\n\n\n\t\n\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t
Lender<\/th>Fixed Rates From (APR)
\n<\/th>		Variable Rates From (APR)<\/th>Loan terms (years)<\/th>Loan amounts<\/th>\n<\/tr>\n<\/thead>\n

\n
\n
\n
\n \n Credible Rating<\/a>\n <\/span>\n
\n \"Question\n \n 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.<\/a><\/span>\n <\/span>\n <\/span>\n <\/div>\n <\/div>\n
\n \"A\n \"A\n \"A\n \"A\n \"A\n <\/div>\n
\n View details<\/a>\n <\/div>\n <\/div>\n <\/td>
 \n 2.69%+10<\/sup>\n <\/span>\n<\/td> \n 3.65%+10<\/sup>\n <\/span>\n<\/td>5, 7, 10, 12, 15, 20 (depending on loan type)<\/small><\/td>$2,001* to $400,000<\/td>\n<\/tr>\n
\n
    \n
  • Fixed APR:<\/span>\n \n 2.69%+10<\/sup>\n <\/span>\n<\/li>\n
  • Variable APR:<\/span>\n \n 3.65%+10<\/sup>\n <\/span>\n<\/li>\n
  • Min. credit score:<\/span>\n Does not disclose<\/li>\n
  • Loan amount:<\/span>\n $2,001* to $400,000 <\/li>\n
  • Loan terms (years):<\/span>\n 5, 7, 10, 12, 15, 20<\/li>\n
  • Repayment options:<\/span>\n Full deferral, fixed\/flat repayment, interest only, academic deferment, military deferment, forbearance, loans discharged upon death or disability<\/li>\n
  • Fees:<\/span>\n None<\/li>\n
  • Discounts:<\/span>\n 0.25% to 1.00% automatic payment discount, 1% cash back graduation reward<\/li>\n
  • Eligibility:<\/span>\n Must be a U.S. citizen or permanent resident or DACA student enrolled at least half-time in a degree-seeking program<\/li>\n
  • Customer service:<\/span>\n Email, phone<\/li>\n
  • Prequalified rates with a soft credit check:<\/span>\n Yes<\/li>\n
  • Cosigner release:<\/span>\n After 12 on-time principal and interest payments<\/li>\n
  • Loan servicer:<\/span>\n Launch Servicing, LLC<\/li>\n <\/ul>\n <\/div>\n <\/td>\n<\/tr>\n

\n
\n
\n
\n \n Credible Rating<\/a>\n <\/span>\n
\n \"Question\n \n 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.<\/a><\/span>\n <\/span>\n <\/span>\n <\/div>\n <\/div>\n
\n \"A\n \"A\n \"A\n \"A\n \"A\n <\/div>\n
\n View details<\/a>\n <\/div>\n <\/div>\n <\/td>
 \n 3.24%+1<\/sup>\n <\/span>\n<\/td> \n 4.98%+<\/sup>\n <\/span>\n<\/td>5, 10, 15<\/td>$1,000 to $350,000
\n(depending on degree)<\/small><\/td>\n<\/tr>\n
\n
    \n
  • Fixed APR:<\/span>\n \n 3.24%+1<\/sup>\n <\/span>\n<\/li>\n
  • Variable APR:<\/span>\n \n 4.98%+<\/sup>\n <\/span>\n<\/li>\n
  • Min. credit score:<\/span>\n 720<\/li>\n
  • Loan amount:<\/span>\n $1,000 to $350,000<\/li>\n
  • Loan terms (years):<\/span>\n 5, 10, 15<\/li>\n
  • Loan types:<\/span>\n Any private or federal student loan<\/li>\n
  • Repayment options:<\/span>\n Full deferral, full monthly payment, interest only, immediate repayment, academic deferment, military deferment, forbearance, loans discharged upon death or disability<\/li>\n
  • Fees:<\/span>\n Late fee<\/li>\n
  • Discounts:<\/span>\n Autopay, loyalty<\/li>\n
  • Eligibility:<\/span>\n Available in all 50 states (international students can apply with a creditworthy U.S. citizen or permanent resident cosigner)<\/li>\n
  • Customer service:<\/span>\n Email, phone, chat<\/li>\n
  • Soft credit check:<\/span>\n Yes<\/li>\n
  • Cosigner release:<\/span>\n After 36 months<\/li>\n
  • Loan servicer:<\/span>\n Firstmark Services<\/li>\n <\/ul>\n <\/div>\n <\/td>\n<\/tr>\n

\n
\n
\n
\n \n Credible Rating<\/a>\n <\/span>\n
\n \"Question\n \n 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.<\/a><\/span>\n <\/span>\n <\/span>\n <\/div>\n <\/div>\n
\n \"A\n \"A\n \"A\n \"A\n \"A\n <\/div>\n
\n View details<\/a>\n <\/div>\n <\/div>\n <\/td>
 \n 2.59%+2,3<\/sup>\n <\/span>\n
\n<\/td>		 \n 3.89%+2,3<\/sup>\n <\/span>\n<\/td>5, 8, 10, 15, 20<\/td>$1,000 up to 100% of the school-certified cost of attendance<\/td>\n<\/tr>\n
\n

\n
\n
\n
\n \n Credible Rating<\/a>\n <\/span>\n
\n \"Question\n \n 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.<\/a><\/span>\n <\/span>\n <\/span>\n <\/div>\n <\/div>\n
\n \"A\n \"A\n \"A\n \"A\n \"A\n <\/div>\n
\n View details<\/a>\n <\/div>\n <\/div>\n <\/td>
 \n 3.35%+<\/sup>\n <\/span>\n<\/td> \n 3.68%+<\/sup>\n <\/span>\n<\/td>7, 10, 15<\/td>$1,000 to $99,999 annually
\n($180,000 aggregate limit)<\/small><\/td>\n<\/tr>\n

\n
\n
\n
\n \n Credible Rating<\/a>\n <\/span>\n
\n \"Question\n \n 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.<\/a><\/span>\n <\/span>\n <\/span>\n <\/div>\n <\/div>\n
\n \"A\n \"A\n \"A\n \"A\n \"A\n <\/div>\n
\n View details<\/a>\n <\/div>\n <\/div>\n <\/td>
 \n 4.5%+8<\/sup>\n <\/span>\n<\/td> \n 6.08%+8<\/sup>\n <\/span>\n<\/td>5, 10, 15<\/td>$1,001 up to 100% of school certified cost of attendance<\/td>\n<\/tr>\n
\n
    \n
  • Fixed APR:<\/span>\n \n 4.5%+8<\/sup>\n <\/span>\n<\/li>\n
  • Variable APR:<\/span>\n \n 6.08%+8<\/sup>\n <\/span>\n<\/li>\n
  • Min. credit score:<\/span>\n 670<\/li>\n
  • Loan amount:<\/span>\n $1,001 up to cost of attendance<\/li>\n
  • Loan terms (years):<\/span>\n 5, 10, 15<\/li>\n
  • Repayment options:<\/span>\n Full deferral, full monthly payment, interest only, immediate repayment, academic deferment, forbearance<\/li>\n
  • Fees:<\/span>\n Late fee<\/li>\n
  • Discounts:<\/span>\n Autopay, reward for on-time graduation<\/li>\n
  • Eligibility:<\/span>\n Must be an Indiana resident or a U.S. citizen attending an eligible Indiana school<\/li>\n
  • Customer service:<\/span>\n Email, phone, chat<\/li>\n
  • Prequalified rates with a soft credit check:<\/span>\n Yes<\/li>\n
  • Cosigner release:<\/span>\n After 12 months<\/li>\n
  • Loan servicer:<\/span>\n American Education Services<\/li>\n <\/ul>\n <\/div>\n <\/td>\n<\/tr>\n

\n
\n
\n
\n \n Credible Rating<\/a>\n <\/span>\n
\n \"Question\n \n 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.<\/a><\/span>\n <\/span>\n <\/span>\n <\/div>\n <\/div>\n
\n \"A\n \"A\n \"A\n \"A\n \"A\n <\/div>\n
\n View details<\/a>\n <\/div>\n <\/div>\n <\/td>
 \n 3.29%+<\/sup>\n <\/span>\n<\/td>N\/A<\/td>10, 15<\/td>$1,500 or $2,000 up to school\u2019s certified cost of attendance
\n(depending on school type and minus other aid received)<\/small><\/td>\n<\/tr>\n
\n
    \n
  • Fixed APR:<\/span>\n \n 3.29%+<\/sup>\n <\/span>\n<\/li>\n
  • Variable APR:<\/span>\n N\/A<\/li>\n
  • Min. credit score:<\/span>\n 670<\/li>\n
  • Loan amount:<\/span>\n $1,500 up to cost of attendance less aid<\/li>\n
  • Loan terms (years):<\/span>\n 10, 15<\/li>\n
  • Repayment options:<\/span>\n Full deferral, interest only, immediate repayment, academic deferral, forbearance<\/li>\n
  • Fees:<\/span>\n None<\/li>\n
  • Discounts:<\/span>\n None<\/li>\n
  • Eligibility:<\/span>\n Must be a U.S. citizen or permanent resident and be making satisfactory academic progress.<\/li>\n
  • Customer service:<\/span>\n Email, phone<\/li>\n
  • Prequalified rates with a soft credit check:<\/span>\n Yes<\/li>\n
  • Cosigner release:<\/span>\n After 48 months<\/li>\n
  • Loan servicer:<\/span>\n American Education Services (AES)<\/li>\n <\/ul>\n <\/div>\n <\/td>\n<\/tr>\n

\n
\n
\n
\n \n Credible Rating<\/a>\n <\/span>\n
\n \"Question\n \n 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.<\/a><\/span>\n <\/span>\n <\/span>\n <\/div>\n <\/div>\n
\n \"A\n \"A\n \"A\n \"A\n \"A\n <\/div>\n
\n View details<\/a>\n <\/div>\n <\/div>\n <\/td>
 \n 2.890%9<\/sup>\n <\/span>\n - \n 17.49%9<\/sup>\n <\/span>\n<\/span><\/td> \n 3.75%9<\/sup>\n <\/span>\n - \n 16.370%9<\/sup>\n <\/span>\n<\/span><\/td>10 to 20<\/td>$1,000 up to 100% of school-certified cost of attendance<\/td>\n<\/tr>\n
\n
    \n
  • Fixed APR:<\/span>\n \n 2.890%9<\/sup>\n <\/span>\n - \n 17.49%9<\/sup>\n <\/span>\n<\/span><\/li>\n
  • Variable APR:<\/span>\n \n 3.75%9<\/sup>\n <\/span>\n - \n 16.370%9<\/sup>\n <\/span>\n<\/span><\/li>\n
  • Min. credit score:<\/span>\n Does not disclose<\/li>\n
  • Loan amount:<\/span>\n $1,000 up to 100% of school-certified cost of attendance<\/li>\n
  • Loan terms (years):<\/span>\n 10 to 209<\/sup><\/li>\n
  • Repayment options:<\/span>\n Full deferral, fixed\/flat repayment, interest only, academic deferment, forbearance, loans discharged upon death or disability<\/li>\n
  • Fees:<\/span>\n Late fee, non-sufficient funds (NSF) fee<\/li>\n
  • Discounts:<\/span>\n Autopay<\/li>\n
  • Eligibility:<\/span>\n Must be a U.S. citizen or permanent resident. Also available to non-U.S. citizen students (including DACA students) attending a school located in the U.S. who apply with a qualifying cosigner.<\/li>\n
  • Customer service:<\/span>\n Phone, chat<\/li>\n
  • Prequalified rates with a soft credit check:<\/span>\n Yes<\/li>\n
  • Cosigner release:<\/span>\n Borrowers can apply after graduation, 12 consecutive on-time principal and interest payments, and meeting certain credit requirements.<\/li>\n
  • Loan servicer:<\/span>\n Sallie Mae<\/li>\n <\/ul>\n <\/div>\n <\/td>\n<\/tr>\n
Compare private student loan rates without affecting
your credit score. 100% free!<\/b>

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Compare Private Loans Now<\/a><\/center>
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Trustpilot<\/a><\/div>
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Lowest APRs reflect autopay, loyalty, and interest-only repayment discounts where available | Read our full methodology<\/a> | 10<\/sup>Ascent Disclosures<\/a> | 1<\/sup>Citizens Disclosures <\/a> | 2,3<\/sup>College Ave Disclosures<\/a> | 11<\/sup>Custom Choice Disclosures<\/a> | 7<\/sup>EDvestinU Disclosures<\/a> | 8<\/sup>INvestEd Disclosures<\/a> | 9<\/sup>Sallie Mae Disclosures<\/a><\/small><\/p><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n

8 student loans for an engineering degree<\/h2>\n

If you\u2019re hoping to earn a degree in engineering, you have many options available for financing your education, including grants and scholarships explicitly geared toward students in science, technology, engineering, and mathematics (STEM) programs. If you need additional funding, student loans may be able to help cover education expenses. <\/p>\n

If you take out private student loans <\/a>for engineering school, comparing rates and terms from multiple lenders can help you find the best loan for your needs. These eight Credible partner lenders offer private student loans for engineering degrees:<\/p>\n