Credible has a prequalification tool that allows borrowers to make comparisons of customized rates from multiple lenders by just filling a single application. This is why Credible is among the top best marketplace for student loans.
Credible is a great online marketplace that provides personalized quotes from banks, fintech companies, and state loan authorities for private student loans and student loan refinancing.
Some finance institutions lending loans through Credible include Rhode Island Student Loan Authority (RISLA) and Massachusetts Education Financing Authority (MEFA).
Credible offers student loan refinancing through graduate, undergraduate, and Parent PLUS loans. Some Credible loan lending partners provide higher interest rates than other private lenders in the market. However, this lending company is well known for:
· High approval rates
· Repayment plans that are income-driven (particular to RISLA)
· Not partnering with lenders charging application, prepayment, and origin fees.
Some lenders partnered with Credible include Brazos, Advantage Education Loan, EFLI, PenFed, EdvestinU, and College Ave.
Credible as a marketplace does not list all terms and conditions for each lender. It is vital to research more about forbearance policies, unemployment protection, and discounts before signing up for a loan.