BoroCash installment loans review

Designed exclusively for college students — including international students.

BoroCash is one of the only installment loan options designed exclusively for college students. It not only offers the same fixed rates for all borrowers, but it can also build your credit while you’re in school. But it’s not available in all states, and its simple application might make it a little too easy to overborrow.

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Min. Amount


Max. Amount

1 to 2 business days

Turnaround time


Product NameBoroCash
Min. Amount$100
Max. Amount$2,000
Loan Term1 month to 1 year
Turnaround Time1 to 2 business days
RequirementsCollege student or recent graduate, Live in an eligible state, 18+ years old
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What is a BoroCash installment loan?

A BoroCash installment loan is a short-term loan of $100 to $2,000 tailored toward college students — including international students — and recent graduates. You have between one and 12 months to pay it back at an APR from 15.9% to 19.9%. And if you can repay the loan in a month, you won’t have to pay interest at all.

You can apply online or by downloading the BoroCash app.

What states are BoroCash installment loans available in?

BoroCash installment loans are available in the following states:

  • Arkansas
  • California
  • Florida
  • Illinois
  • Iowa
  • Michigan
  • Nebraska
  • New Jersey
  • New York
  • North Carolina
  • Pennsylvania
  • Utah
  • Wisconsin

What are the benefits of BoroCash?

From its flat APR to its online chat feature, here are a few perks of borrowing from BoroCash:

  • Build your credit. Unlike many short-term lenders, BoroCash reports on-time repayments to the main credit bureaus so you can graduate with a strong credit score.
  • International students eligible. This is one of the few financing options available to international students can apply for without a cosigner.
  • Low maximum APR. APRs range from 15.9% to 19.9% low for an installment loan. Or, 0% if you can repay it in a month.
  • Live-chat feature. You can get quick answers to your questions without having to pick up the phone.

What to watch out for

Consider these potential drawbacks before taking out a BoroCash installment loan:

  • Limited states. BoroCash installment loans are only available in 13 states.
  • Only available to college students and recent grads. You’ll need to be enrolled in a program or a recent graduate to qualify for this loan.
  • Maybe too easy to apply. Easy applications can be helpful in an emergency, but there’s also the risk of overborrowing.

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Beware of overborrowing

The convenience of BoroCash can be a double-edged sword. While it saves you time when you apply, such a convenience might make it too easy to borrow when you don’t actually need it. A 19.9% APR might be low for a short-term loan, but it still isn’t free. If you can’t repay it in a month, and it isn’t essential, you might want to look elsewhere.

Boro merged its personal and installment loan products

Boro has merged its personal loans and installment loans into one product called BoroCash. BoroCash comes with similar rates and terms as its personal loans program did, but with fewer requirements. One major change is the 0% APR option on the one-month term.

Is it safe to apply for a BoroCash installment loan?

Generally, yes. BoroCash encrypts any information you enter on its online application. It only shares your personal information with other companies for business purposes, and it only uses your information internally for marketing and business purposes.

However, it’s never guaranteed your information will stay 100% secure when you apply online.

Does BoroCash reviews and complaints

BBB accreditedYes
BBB ratingB+
BBB customer reviews1.67 out of 5 stars, based on 3 customer reviews
BBB customer complaints6
AppStore score4.6 out of 5 stars, based on 2,331 customer reviews
Google Play score4.2 out of 5 stars, based on 141 customer reviews
Customer reviews verified as of16 October 2020

BoroCash barely has any online reviews, which is common for lenders that work with such a niche market. It only has three reviews on the Better Business Bureau and doesn’t have a Trustpilot page. A few customers complained on the BBB that it had incorrectly processed repayments or simply hadn’t gotten back to them after submitting an application. But Boro responded to two of the three comments — which is a good sign.

Am I eligible?

You must meet the following requirements to get a BoroCash loan:

  • College student or recent graduate. You need a .edu email address to be eligible for this loan.
  • Live in eligible state. BoroCash loans are only available in 13 states.
  • Over 18. This is the legal age to take out a loan in most states.
  • Citizen, permanent resident or nonresident. If you aren’t a US citizen or don’t have a green card, you must have an A-5, C-8, F-1/OPT, G, H-1B, J-1, L-1 or O-1 Visa.

How do I apply?

You can apply online or through the app. Before you get started, check the eligibility requirements to make sure you qualify. Then follow these steps to apply online:

  1. Click the Go to site button on this review.
  2. Enter your personal contact information and click Create account.
  3. Sign into your account and follow the directions to complete the application.

I got the BoroCash installment loan. Now what?

Once you get the loan, you’ll soon start making repayments. Depending on the terms of your loan, you’ll make between one and 12 repayments — your due date should be available on your loan document. You can make repayments online or through the app.

If you have any questions or concerns, reach out to customer service as soon as possible.

Bottom line

BoroCash can be a helpful tool to help you cover expenses and build your credit while you’re in school. But it’s not available to residents of all states, and you may put yourself at risk of overborrowing. You can learn about your other short-term loan options by reading our guide to installment loans.

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