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Varies by lender
APR
Varies by lender
Max. Loan Amount
Varies by lender
Min. Credit Score
Product Name | Edvisors Private Student Loan Marketplace |
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Max. Loan Amount | Varies by lender |
APR | Varies by lender |
Interest Rate Type | Fixed |
Review by
Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.
Edvisors can be helpful if you want general information about private student loans available at your school. A great feature it offers is a monthly repayment calculator you can use to see how much you might end up paying each month before you choose a specific lender.
However, it doesn’t allow you to compare personalized rates from multiple lenders at once, unlike other connection services. And it doesn’t work with every student loan provider out there — meaning you might be able to find a better deal by comparing offers elsewhere.
Rather apply with a lender directly? Compare private student loan providers below.
It depends on the lender you apply with. Everyone is eligible to use the Edvisors platform. But you’ll likely have an easier time finding a good deal from one of its partners if you have good credit and a low debt-to-income ratio — or a cosigner who does.
Edvisors allows you to compare several private student loan options available to you based on where you’re going to school. It’s a useful way to quickly compare the main features of lenders that offer funding you might qualify for. And if you find a provider you like, click through to its website to fill out an application.
Edvisors also has a few features that can help you make a more informed decision. Its repayment calculator helps you figure out how much you might pay each month on all of your student loans.
Edvisors’ partners include some of the top student loan companies in the country:
Yes. Some of Edvisors’ partners offer loans that parents can take out on behalf of their children. But comparing your options as a parent can be a little tricky, since there’s no way to filter offers by type of borrower. You’ll have to read up on each lender separately to make sure parent loans are an option — and to find out what rates and terms are available for that particular type of loan.
Edvisors’ services are free for anyone to use. Instead of making money from you, it makes money from its partner lenders. If you’re connected with a lender through Edvisors, the cost of your loan varies depending on the specific provider’s rates and terms.
Edvisors itself doesn’t offer any discounts since it’s a free service. But you can use Edvisors to find lenders that offer interest rate discounts for a variety of reasons — such as signing up for autopay or getting good grades.
It depends on the lender. Most private student loan providers only offer one standard repayment plan after the grace period is up. But many offer some or all of the following options while you’re in school and up to six months after you graduate or drop below half-time enrollment:
Contact the lender to learn more about your repayment options before you apply.
Yes. Many of Edvisors’ partners offer deferment and forbearance. However, the circumstances that qualify for deferment and forbearance vary by lender.
You can typically qualify for deferment or forbearance if you go on active military duty or face some kind of financial hardship, like lose your job. Some lenders might also offer deferment in other situations, like going back to school for a higher degree. Learn about your options by reaching out to the lender before applying.
From its monthly repayment calculator to its wide range of partners, here are a few perks of using Edvisors:
Consider these potential pitfalls before using Edvisors’ marketplace:
Follow these steps to compare student loan providers that work with your school:
Follow the lender’s directions to complete the application. Typically, you’ll fill out an application, get an offer and continue with the application if you’re interested in the rates and terms available.
You only need to know the name of the school you’re attending to use Edvisors. Don’t know where you’re going? Browse your options by the names of the schools you’re considering.
Founded in 1998, Edvisors is a free resource for students looking to fund their education. It works with student loan providers to help you find the right financing for your needs. But it also offers a variety of informational guides and calculators to help you make an informed decision.
You can find out how Edvisors stack up to other marketplaces with our guide to student loans.