Credible Review - Student Loan Refinance

Application & Approval Process
Rates & Fees
Payment Terms
Customer Support & Benefits

About Credible

Credible is a marketplace for student loan refinancing. Their are multiple lenders on Credible’s platform making it easy for borrowers to shop for great rates and repayment terms. It is one of the largest refinancing marketplaces in the US boasting a user base of more than 1.2m as of 2018. Credible Labs was founded in 2012 by Stephen Dash as a financial technology company based out of San Francisco. The company was acquired by Fox Corporation in October 2019, changing its name to Credible Inc.

Credible is best known for its simplicity and minimalism. Students are required to fill out a single online questionnaire to get quotes from its partner lenders. The process is quite hassle-free and takes just a few minutes to complete. The platform is also very informative and provides a holistic view of the offered rates and repayment terms. Credible also offers student loans, personal loans, and credit cards from its partner lenders.






  • Zero cost for borrowers
  • Multiple partner lenders on board
  • Simple yet informative
  • One form-fill for multiple rates

Key Highlights

  • Best for comparing different refinance loan rates and payment terms.
  • No additional cost for borrower with zero pre-payment charges.
  • Minimum credit score of 600 with loan amount as high as $500,000.
  • Refinancing on private, federal, and parent plus education loans.
  • Attractive discounts on autopay and loyalty benefits from selected partner lenders.

Application & Approval Process

Initial Quotation

Credible accepts both federal and private education loan refinancing from the borrower or the co-signer, including Parent PLUS loan refinancing. The speed of the application process depends on the specific borrower that you select, however there are sources that say you can get your loan approved within 1 business day of applying. Credible’s loan refinancing process is best described as easy and simple.

The start of the application process requires you to open an account with the platform and fill out a simple form that includes the following details:

Education Details:

  • Institute Name
  • Educational Degree
  • Field of Study

Income Details

  • Work Experience
  • Income before Tax
  • Passive Income
  • Refinance Loan Amount
  • Monthly House Rent

You also need to authorize a soft credit inquiry. Credible assures that checking prequalified rates on the Credible site will not affect your credit score*.

Once you fill out these details, Credible will show you the offer page where you can shop for your preferred loan options and partner lenders based on your answers. Each offer will have a specific term, rate, and payment terms. The layout is user-friendly and you get to browse through several different options at a glance. Credible calculates the total cost so you can easily boil down to the fundamentals.


You can filter out the offers by Rate Type, Discounts, Loan Term, and Monthly payment. You can sort of the results based on APR, Rate Type, partner Lender, Monthly Payment, and Total Cost. You can further expand each result to see the full terms and conditions. There is a clear mention of what each rate includes and what it excludes. You can also find a brief description of each partner lender, downloadable company disclosures, discounts and benefits, and a checklist of required documents.

Once you finalize an offer, you simply have to apply for the loan. At this stage, you will be required to fill out a detailed questionnaire. The questions depend on the lender you choose and are generally about your housing, personal, and loan details.

Next, you are required to share your details; KYC documents, loan statements, Income Tax Returns, etc.

The chosen partner lender does a hard credit pull that can impact your credit score when completing the full application after prequalification.


Credible processes your loan application and forwards it to its partner lender. In some cases, you can expect to hear back from the private lending partner within 1 business day.

Top Lending Partners Available on Credible for Student Loan Refinance

  • Advantage Education Loan
  • Brazos
  • Citizens Bank
  • College Ave
  • EdvestinU
  • ELFI
  • MEFA
  • PenFed
  • SoFi

Credible Rates & Fees

As a marketplace for refinancing loans, Credible offers a range of competitive loan rates from its partner lenders, most of which mirror the general education refinancing rates in the US market. Credible offers you the loan rates and terms best suited for your needs. It also offers full transparency on the payment terms and conditions.

Rates range from 1.89% 9.15% APR *

Credible doesn’t charge its customers for its service and instead, it earns commissions off its partner lenders. The platform also guarantees zero prepayment charges for all its partner lenders.

Payment Terms

There is a wide range of terms and conditions that you can choose from, and you can also browse through discounts, deferment and forbearance options, flexible payment options, and more. Almost all loans have discounts on autopay. Credible also offers a one-time discount through coupons.

The refinance loan terms vary in the range of 5, 10, 15, 20 and 25 years. All student refinance loans on Credible can be repaid earlier than the loan term without incurring any prepayment charges. Repayment deferments are offered by some partner lenders on grounds of disability, academics, military duty, or death.

In case you need a co-signer as a payment condition, almost all partner lenders offer a co-signer release after 12-36 months. Note that some partner lenders on Credible like Massachusetts Educational Financing Authority (MEFA), Rhode Island Student Loan Authority (RISLA), and SoFi does not have a co-signer release option. For an average borrower, borrowing up to $100000, there are plenty of attractive terms available at competitive rates.

Customer Support & Benefits

Credible is an informative brand and is transparent in its operations. The website is quite self-explanatory with a detailed F&Q section for specific queries. You can also visit the blog section which has a lot of helpful content regarding student loan refinancing. Credible also has a healthy promotions policy and does give out discount codes and best price guarantees at regular intervals. Registered users can also seek help through email or phone.





Contact Details

Phone: 877-791-6510.
Email: [email protected]

*To check the rates and terms you qualify for, Credible or our partner lender(s) conduct a soft credit pull that will not affect your credit score. However, when you apply for credit, your full credit report from one or more consumer reporting agencies will be requested, which is considered a hard credit pull and will affect your credit

*Read rates and terms at




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