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Credible student loan refinancing review

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Student loans can become a burden if you're paying high interest.

Life can get hectic as you get your life in order after college graduation. Once the grace period ends, student loans become a reality. You may realize that the interest you’re being charged is just unaffordable. That means it’s time to refinance. Credible may be able to help.

Starting at 1.81%



Max. Loan Amount

Good to excellent credit

Min. Credit Score


Product NameCredible Student Loan Refinancing
Minimum Loan Amount$5,000
Max. Loan AmountNone
APRStarting at 1.81%
Interest Rate TypeVariable
Minimum Loan Term5 years
Maximum Loan Term20 years
Requirements$5,000+ of student debt from a qualifying US educational program, 18+ years old, US citizen or permanent resident — or have a cosigner that meets this criteria
Go to Credible Labs Inc.'s website

What makes Credible student loan refinancing unique?

Credible isn’t a direct lender, but a marketplace. The benefit for you is some time saved in applying for refinancing. With one form, you’ll get prequalified rates from multiple lenders instantly.

What is Credible student loan refinancing?

Loan rates and terms through Credible vary based on the lender you prequalify with. All participating lenders can refinance federal and private loans, and most can refinance Parent PLUS Loans that were used to fund approved US undergrad and graduate programs.

However, there are a few restrictions to be mindful of. You need to have at least $5,000 in student loan debt to qualify. And you’ll also need to be at least 18 years old and a US citizen or permanent resident — or have a cosigner that meets this criteria.

What are the benefits of Credible student loan refinancing?

  • No origination and repayment fees. One fee that you’ve probably seen when comparing loans is an origination fee. If you get a loan with any of the providers through Credible you won’t pay an origination. You also won’t get slammed for making extra repayments, which could save you hundreds of dollars in interest.
  • Cosigners allowed. If your credit less than perfect or you otherwise don’t completely qualify on your own, you can apply with a cosigner. You can also check your rates with multiple cosigners to see which one helps you get the best deal.
  • Multiple lenders. Submitting one form will get you prequalification results from multiple lenders at once. This can save you time and frustration by avoiding having to input the same information on multiple websites.
  • No degree required. You can find a lender through Credible even if you didn’t finish your program.

What to watch out for

Credible is a handy tool to save time, but it’s not flawless. While some of these drawbacks are generally applicable to any privatization of federal loans, there are also some more general drawbacks.

  • Loss of federal benefits. Federal loans carry certain benefits. Some of those benefits, like income-based repayment plans, won’t transfer if you refinance privately. While some lenders may offer similar benefits like unemployment protection, it’s not a guarantee. You may want to check with any potential providers before you accept an offer.
  • Middle man. Sometimes less is more. Dealing with an intermediary to get a problem fixed can be frustrating and time-consuming, no matter how good the service is.
  • Prequalification does not mean guarantee. If you have a change of circumstances that impacts your credit profile between the time you checked your rates and apply for the loan, you may not get approved. When you’re looking over the initial offers presented by Credible, keep in mind you may need to have a backup or two ready.
  • Limited selection. Getting your information to multiple providers at once is a timesaver, but there are many more lenders out there than those in Credible’s network. It may be beneficial to compare other student loan providers to get a rounded picture of how competitive offers can be.

Compare more student loan refinancing providers

Updated November 15th, 2019
Name Product Min. Credit Score Max. Loan Amount APR
3.49% to 6.99%
Enjoy no fees, low rates and flexible terms — but only for borrowers with good credit.
Starting at 2.45%
Save on your student loans with this market-leading newcomer.
Good to excellent credit
Starting at 1.81%
Get prequalified offers from top student loan refinancing providers in one place.
2.39% to 6.01%
Lower your student debt costs with manageable payments, affordable rates and flexible terms.
1.81% to 6.49%
Get a tailored interest rate and repayment plan with no hidden fees.
Full balance of your qualified education loans
1.81% to 5.98%
A leader in student loan refinancing, SoFi can help you refinance your loans and pay them off sooner.
2.27% to 7.49%
Refinance all types of student loans — including federal and parent PLUS loans.

Compare up to 4 providers

Am I eligible?

Credible can be a helpful tool for comparing multiple prequalified offers at once. To be eligible, you need to meet the following criteria:

  • At least $5,000 of student debt from a qualifying US educational program
  • US citizen or permanent resident — or have a cosigner that meets this criteria
  • At least 18 years old

How do I apply?

Expect to supply your personal and contact information, information about your former school and the amount you want to refinance. Once you’ve gathered everything and are ready to move towards getting in control of your student debt, follow these simple steps:

  1. Click the Go to site button on this page to be directed to Credible’s student loan refinancing application form
  2. Fill out the requested education and financial information
  3. Review the prequalified options
  4. Provide your existing loan details to get a final refinancing offer

I got student loan refinancing through Credible. Now what?

Now that you’ve made a big step towards financial wellness, you can keep that forward momentum going. There are just a few things you’ll want to keep in mind.

Setting up payments will vary between lenders. Most providers offer online solutions, including autopay to help you avoid late and missed payment fees. It’s important to only choose this option if you’re able to keep enough money in your account to avoid nonsufficient funds (NSF) fees.

Lenders may also have additional resources for you, like free credit scores. You can explore the website or contact the lender directly to learn more about any additional services offered.

Bottom line

Getting your finances in line and streamlined can seem like an overwhelming task. The good news is that it doesn’t have to be. Credible is an option for whittling away some of the extra legwork.

While it’s a great resource, it may not be able to cover all of your potential offers. You don’t have to settle, though. You can compare additional student loan lenders to get what’s best for you.

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