Credible Student Loan Refinance Review


Rating: 9.8 / 10 (Excellent)
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Founded in 2012, Credible is multi-lender marketplace that helps students and borrowers take advantage of today’s competitive loan offerings by connecting them with leading student loan refinancing lenders. They let you consolidate federal or private student loans into one account enabling you to make lower payments. The service is entirely free and checking your rates does not affect your credit score. Applying for a new student loan or refinancing an existing loan can be done entirely online.

Loan Limits

Credible partners with a variety of lenders, so loan limits will vary accordingly. MEFA  for example does not place any limits, making it a good choice for high balance borrowers. Applicants must at least have at least $5,000  in student loan debt to qualify for one of Credible’s lending partner's student loan programs. Loans are available for both private and federal loans.

 

Loan Minimum

Loan Maximum

Advantage Education Loan

$7,500

No Max

Citizens Bank

$10,000

Undergrad - $90,000

Grad - $300,000

College Ave

$5,000

Undergrad - $150,000

Grad - $250,000

Connext

$10,000

$250,000

Earnest

$5,000

No Max

EDvestinU

$7,500

$200,000

iHelp

$10,000

Undergrad - $150,000

Grad - $250,000

MEFA

$10,000

No Max

RISLA

$7,500

Undergrad - $100,000

Grad - $250,000

Splash Financial

$25,001

$350,000

Loan Terms

Loan terms of up to 25 years are available, giving borrowers better flexibility to find a refinancing option right for their unique situation.  However, this again will vary according to each individual lender.

 

Loan Terms

Advantage Education Loan

10, 15, 20 and 25 year loans

Citizens Bank

5, 10, 15 and 20 year loans

College Ave

5, 7, 10, 12 and 15 year loans

Connext

5, 10, 15 and 20 year loans

Earnest

From 5 to 20 year loans

EDvestinU

10, 15 and 20 year loans

iHelp

10, 15 and 20 year loans

MEFA

15 year loans

RISLA

5, 10 and 15 year loans

Splash Financial

10 year loans

Rates

Credible offers some of the most competitive rates in student loan refinancing. Each offer will be dependant on an individual’s credit profile. Both fixed and variable rates are available to help  you make the most out of refinancing. Credible lets you easily compare rates and other important loan data through its dashboard. They make it easy to compare APR, monthly payments and total cost of the loan. . Auto-debit and loyalty discount options of up to 0.5% are available for some lenders.

 

Fixed

Variable

Advantage Education Loan

4.09%

Not available

Citizens Bank

3.35%

3.11%

College Ave

4.65%

4.13%

Connext

4.25%

3.11%

Earnest

3.35%

3.11%

EDvestinU

4.34%

3.98%

iHelp

4.75%

3.88%

MEFA

4.95%

4.03%

RISLA

3.49%

Not Available

Splash Financial

5.84%

Not Available

Qualifying

Borrowers should be of legal age in their state and a US citizen. It is possible to qualify for a loan even with less than perfect credit but this is subject to each partner lender’s discretion. For example, borrowers with 620 credit scores could qualify with the help of a co-signer. Minimum income requirements for each lender will vary.

Student Loans at Credible

Credible offers a good mix of student loan and refinancing options along with the most competitive rates in the market today. Borrowers can choose loan terms of up to 25 years with some lenders offering no maximum loan limits. But what makes Credible stand out from its competition is its effort to place all this information in an easily digestible fashion with its dashboard. Here you can easily compare offers from various lenders to help determine which payment structure or terms works best with you.  Its principle of bringing transparency to the lending process empowers borrowers to make more informed decisions.   


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Top Rated
Our Partner
9.8 / 10
  • Rates start as low as 3.11% variable and 3.35% fixed APR
  • Find your rate in 2 minutes
  • Checking your rates does not affect your credit score
  • Get the best offers from top lenders
  • Select from multiple student refinance offers
  • Consolidate some or all to make single payments
  • Get prequalified in minutes