Trusted Student Loans Review 2023


Borrower tip: Refinancing federal student loans to a private student loan may make you ineligible for certain types of protections, such as income-based repayment plans, federal debt forgiveness programs, and forbearance/deferral options through the Department of Education.

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Credible offers pre-qualified loan rates including:

  • Loans for university students.
  • Loans for graduates.
  • Student loans for parents.
  • Medical, Law and MBA School Loans.
  • Student loan refinancing.
  • Student Loan Consolidation.

The procedure is quite simple. Start by selecting the type of loan you are interested in and fill out the application form. You’ll answer questions about your finances and your education, and you’ll also have the option to add information about a potential co-signer to increase your chances of qualifying. This is useful if you don’t have a lot of established credit or sufficient income.

The whole process should take about two minutes. Trusted will do a soft credit check, which will not affect your credit score. If you qualify for one of the trusted partner products, you will receive a list of each lender’s pre-qualified rates. You can refine the list further using filters as needed.

Users can then choose the loan that best suits their needs. You can submit your information directly to the lender through a trusted.

Credible is free to use. The Company receives referral fees from lenders if you apply for a loan using the Trusted Portal. Credible’s student loan lending partners do not charge origination fees.

Because Credible is a marketplace, discounts will vary depending on which lender you choose. A discount is usually offered for automatic payment.

How can you qualify?

To qualify for a student loan from one of Credible’s partner lenders, students must typically be enrolled in a qualifying education program at least part-time. If you are under the age of majority in your state, you will need a trusted co-signer. International students are also eligible if they provide a US address and apply with a creditworthy co-signer who is either a US citizen or permanent resident.

To qualify for student loan refinancing, Credible has partnered lenders with options for both graduate and non-graduate borrowers. Federal loans, private student loans, including Parent PLUS loans are eligible – as long as the person applying for the refinance is the primary borrower or co-signer on each loan.

Because Credible is a marketplace that works with multiple lenders, there is no minimum credit score. However, Credible recommends a score of 670 for student loans and 700 for refinancing. Credible notes that if you have limited or poor credit, adding a trusted co-signer will improve your chances of getting pre-qualified.

Based on the information you provide, Credible will only match you with lenders in your area.

Credible has been accredited by the Better Business Bureau since 2015 and has an A+ rating. Credible has an excellent rating of 4.7 out of 5 stars on Trustpilot based on over 6,600 reviews. The Consumer Financial Protection Bureau received five student loan complaints involving Credible in 2022, with most involving dealings with the lender. Every complaint received a timely response and was closed with an explanation.

Contact Credible via email at support@credible.com, by phone at 866-540-6005, or via live online chat.

On Credible’s website, you can apply for pre-qualification as well as upload documents and sign a loan agreement, all from the personal account you create.

Since Credible is not a lender, deferment and repayment options will vary depending on the company you choose.

Since Credible is not a lender, your payout options will vary depending on the company you choose.

When you submit a rate request, Credible does not run a hard inquiry on your credit report. Instead, it performs a soft inquiry that has no effect on your credit score. This means you are not guaranteed to get pre-qualified rates from all lending partners.

If you decide to move forward with a full lender application, at that point the lender will dig deeper into your credit with a hard credit inquiry that will temporarily affect your score.

Trust isn’t a lender – it’s a lender comparison marketplace. Think of it as a research tool to give you a personalized overview of your options based on your financial situation.

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  • People shopping for a loan.
  • People who want to get an idea of ​​rates without hard credit or fees.