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Boro personal loans for college students review

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Rates start high, but you can use it to pay for college expenses.

  • Best for international students looking to supplement their student loans without credit cards.
  • Pick something else if you need to borrow more than $3,000.


Max. Loan Amount

15.9% (starting at)



Product NameBoro Personal Loans for Students
Min. Loan Amount$1,000
Max. Loan Amount$3,000
APR15.9% (starting at)
Interest Rate TypeFixed
Minimum Loan Term1 year
Maximum Loan Term3 years
Go to Boro's website

Expert review

Anna Serio

Review by

Anna Serio is a staff writer untangling everything you need to know about personal loans, including student, car and business loans. She spent five years living in Beirut, where she was a news editor for The Daily Star and hung out with a lot of cats. She loves to eat, travel and save money.

Expert review

Boro is one of a handful of lenders willing to work with college students — especially international students. While its rates don’t start as low as your standard personal loan provider, it’s one of the most competitive financing options out there for the borrowers it works with.

You need to be a resident of one of the 18 states it lends in to qualify, however. And it’s not ideal for students looking to borrow large amounts — its loans are capped at $3,000.

Not sure Boro is right for you? Compare more personal loan options below.

First, am I eligible?

To meet Boro’s general eligibility requirements, you must meet the following requirements:

  • Enrolled in a US school.
  • Be a US resident or have an applicable visa.
  • 2.0+ GPA or 3.0+ for graduate students.
  • Live in an eligible state.
While Boro doesn’t have any credit or income requirements, good credit and a steady income will strengthen your application.

Eligible states

  • Alabama
  • Arizona
  • Arkansas
  • California
  • Florida
  • Illinois
  • Indiana
  • Iowa
  • Michigan
  • Nebraska
  • New Jersey
  • New York
  • North Carolina
  • Ohio
  • Pennsylvania
  • Utah
  • Washington
  • Wisconsin



  • Only practical for small expenses
  • High minimum APR of 15.9%
  • Minimum GPA requirement
  • Only available in 18 states

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Updated December 13th, 2019
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How do I apply?

Follow these steps to begin the online application:
  1. Click Go to Site to be redirected to Boro’s application.
  2. Create your account by entering your university email and password. Read the electronic communications agreement, terms of use and privacy policy. Then click Sign Up.
  3. Check your school email and confirm your account.
  4. Follow the directions to complete the application.

What information do I need to apply?

Before you get started, have the following documents on hand to speed up the application process:

  • Social Security number (US citizens)
  • Copy of green card or I-20 (international students)
  • Copy of government-issued ID, such as a driver’s license or passport
  • Recent transcripts or standardized test results
  • Bank account information

Step-by-step instructions to apply with screenshots

  • What happens after I apply?

    Boro will process your application and notify you of your approval status. Once you sign your loan documents, you may be able to have your loan funds deposited into your bank account as soon as the same day.

    More about Boro

    How do repayments work with Boro?

    How much you owe each month should be outlined in your contract. Boro has two options for repayment: automatic payments or check. Automatic payments involve less work — just connect your bank account and Boro automatically deducts your repayment each month when it’s due. If you pay by check, you’ll need to send it a few days before your payment is due to make sure Boro receives it in time.

    If you’re more than 15 days late on a payment, Boro charges a late fee of $15. It might also show up on your credit report and hurt your credit score. If you’re concerned you’ll be late or have any additional questions about your loan, call 800-840-6604.

    Want to learn more about your student loan options? Check out our guide to student loans. Or visit our personal loans page to find more lenders you might qualify with.

    Frequently asked questions

    Image source: Boro.com

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