We want this to be a “win-win” situation. So we only want to get paid if we bring you value in the form of finding a personal finance option that works for you. Not by selling your data. Credible receives compensation by the lender if you finish the loan process and a loan is disbursed. The amount of our compensation does not impact how and where lenders appear on our site, and Credible charges you no fees of any sort.
Private student loans can help pay for college after you hit federal loan limits. Make sure to review private student loans’ eligibility rules, rates, and terms before borrowing for college or graduate school. Compare student loan variable interest rates from 1.04% and fixed interest rates from 3.34% APR1 without affecting your credit score.
We want this to be a “win-win” situation. So we only want to get paid if we bring you value in the form of finding a personal finance option that works for you. Not by selling your data. Credible receives compensation by the lender if you finish the loan process and a loan is disbursed. The amount of our compensation does not impact how and where lenders appear on our site, and Credible charges you no fees of any sort.
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We want this to be a “win-win” situation. So we only want to get paid if we bring you value in the form of finding a personal finance option that works for you. Not by selling your data. Credible receives compensation by the lender if you finish the loan process and a loan is disbursed. The amount of our compensation does not impact how and where lenders appear on our site, and Credible charges you no fees of any sort.
Private student loans can help pay for college after you hit federal loan limits. Make sure to review private student loans’ eligibility rules, rates, and terms before borrowing for college or graduate school.
Compare student loan variable interest rates from 1.04% and fixed interest rates from 3.34% APR1 without affecting your credit score.
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5, 7, 10, 12, 15, 20 yrs
Undergrad & Graduate
5, 10, 15 yrs5
Undergrad & Graduate
5, 8, 10, and 15 yrs8
Undergrad & Graduate
7, 10, 15 yrs
Undergrad & Graduate
5, 10, 15 yrs14
Undergrad & Graduate
10, 15 yrs
Undergrad & Graduate
5 - 15 yrs10
Undergrad
Jamie Young is a Credible authority on personal finance. Her work has appeared on Time, CBS News, Huffington Post, Business Insider, AOL, MSN, and more.
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Matt Carter is a writer, editor and student loan authority for Credible. His work has been featured by CNBC, CNN Money, Consumer Reports, Money, USA Today, U.S. News & World Report, The New York Times, The Wall Street Journal, The Washington Post, Yahoo Finance and more.
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Updated February 16, 2021
How can you use private student loans?
You can use private student loans to pay for education-related costs and living expenses, which might not be covered by your federal school loans. Some uses include:
Here are a few notable differences between the two:
See More: Federal vs. Private Student Loans
Find Out: What Are Student Loan Limits?
Each lender has different requirements when it comes to qualifying for a private student loan. But typically you must:
You can get a student loan with bad credit, but not necessarily on your own. While federal loans don’t require a credit check, private student loans do. Many students don’t qualify for private loans on their own because they don’t have a credit history or they have bad credit. If that’s your situation, you may need to add a co-signer to qualify for a private loan.
Learn: How to Find a Co-signer
Learn More: Getting Student Loans Without a Co-signer
Learn More: How to Start Paying Back Your Student Loans
You can also check out our lender reviews for more information:
Keep Reading: The Best Private Student Loans
How can you use private student loans?
You can use private student loans to pay for education-related costs and living expenses, which might not be covered by your federal school loans. Some uses include:
Here are a few notable differences between the two:
See More: Federal vs. Private Student Loans
Find Out: What Are Student Loan Limits?
Each lender has different requirements when it comes to qualifying for a private student loan. But typically you must:
You can get a student loan with bad credit, but not necessarily on your own. While federal loans don’t require a credit check, private student loans do. Many students don’t qualify for private loans on their own because they don’t have a credit history or they have bad credit. If that’s your situation, you may need to add a co-signer to qualify for a private loan.
Learn: How to Find a Co-signer
Learn More: Getting Student Loans Without a Co-signer
Learn More: How to Start Paying Back Your Student Loans
You can also check out our lender reviews for more information:
Keep Reading: The Best Private Student Loans
Answer a few quick questions to request student loan rates from multiple lenders.
Choose a lender and provide a bit more information so your rates can be finalized.
Upload a few documents and your loan is then disbursed to your school.
Checking your rate won’t affect your credit score
Our Client Success Team is always here to help
Student Loan Rate and Terms Disclosure: Rates displayed include Automatic Payment and Loyalty Discounts, where applicable. Note that such discounts do not apply while loans are in deferment. The lenders on the Credible.com platform offer fixed rates ranging from 3.34% - 14.50% APR and Variable interest rates from 1.04% - 13.19% APR. Variable rates will fluctuate over the term of the borrower’s loan with changes in the LIBOR rate. Rates are subject to change at any time without notice. Your actual rate may be different from the rates advertised and/or shown above and will be based on factors such as the term of your loan, your financial history (including your cosigner’s (if any) financial history) and the degree you are in the process of achieving or have achieved. While not always the case, lower rates typically require creditworthy applicants with creditworthy co-signers, graduate degrees, and shorter repayment terms (terms vary by lender and can range from 5-20 years) and include Automatic Payment and Loyalty discounts, where applicable. Loyalty and Automatic Payment discount requirements as well as Lender terms and conditions will vary by lender and therefore, reading each lender’s disclosures is important. Additionally, lenders may have loan minimum and maximum requirements, degree requirements, educational institution requirements, citizenship and residency requirements as well as other lender-specific requirements.
Student Loan Rate and Terms Disclosure: Rates displayed include Automatic Payment and Loyalty Discounts, where applicable. Note that such discounts do not apply while loans are in deferment. The lenders on the Credible.com platform offer fixed rates ranging from 3.34% - 14.50% APR and Variable interest rates from 1.04% - 13.19% APR. Variable rates will fluctuate over the term of the borrower’s loan with changes in the LIBOR rate. Rates are subject to change at any time without notice. Your actual rate may be different from the rates advertised and/or shown above and will be based on factors such as the term of your loan, your financial history (including your cosigner’s (if any) financial history) and the degree you are in the process of achieving or have achieved. While not always the case, lower rates typically require creditworthy applicants with creditworthy co-signers, graduate degrees, and shorter repayment terms (terms vary by lender and can range from 5-20 years) and include Automatic Payment and Loyalty discounts, where applicable. Loyalty and Automatic Payment discount requirements as well as Lender terms and conditions will vary by lender and therefore, reading each lender’s disclosures is important. Additionally, lenders may have loan minimum and maximum requirements, degree requirements, educational institution requirements, citizenship and residency requirements as well as other lender-specific requirements.