- New Jersey
- New York
- North Carolina
Max. Loan Amount
15.9% (starting at)
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.
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.
To meet Boro’s general eligibility requirements, you must meet the following requirements:
Before you get started, have the following documents on hand to speed up the application process:
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.
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.
Image source: Boro.com
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